Inflation expected to drag on Democrats until midterms, experts say as it hits 8.3% in April
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FAQ - New Privacy PolicySen. John Barrasso rips Biden's blame game on record-high inflation on 'Kudlow.'Year-over-year April inflation numbers released Wednesday, at 8.3%, are just the latest sign that Democrats are in for a challenging midterm election, experts say, with economic issues likely to dominate the ballot box. Committee for a Responsible Federal Budget Policy Director Marc Goldwein said he believes the reason for the low number is decreasing car and energy prices, but "inflation in most other categories." President Joe Biden speaks in the State Dining Room of the White House, Saturday, March 6, 2021, in Washington. President Biden Tuesday also addressed inflation in remarks at the White House, arguing that Republicans don't bring any real plan to the table as he hammered the "ultra-MAGA" policy platform from Sen. Rick Scott, R-Fla."My plan is to lower…everyday costs for — everyday costs for hardworking families and lower the deficit by asking large corporations and the wealthiest Americans to not engage in price gouging and to pay their fair share in taxes," Biden said. It's not something that you focus on."On the bright side, Goldwein said, the Federal Reserve is acting to raise interest rates and by recent drops in stock prices, it appears the market is taking it seriously.But, he added, Biden isn't doing quite enough on the policy side of things to get inflation under control.
As said here by Tyler Olson