It’s complicated, but the short answer is no.going up at unusual rates and Americans aregetting poorer, just not by as much. And the bleeding slowing down does nothing to undo or ameliorate the wound inflicted upon American families’ finances. The average U.S. household has lost an astounding
As for whether Biden deserves credit, Jacobsen says, “Insofar as he has given the Federal Reserve space to allow interest rates to return to normal, that's a good thing. But the inflation itself was caused by the unprecedented 40% increase in the … money supply during the height of COVID. I didn't hear or see anything that indicated Joe Biden opposed this policy either before or after his election, so it's hard to give him credit now that it's ended.
But government spending played a large role in the inflation wave as well, as much of the money to pay for the record levels of pandemic spending was essentially printed out of thin airBiden’s ineffective and fraud-rife multitrillion-dollar “stimulus” legislation, the, further poured fuel on the inflation fire in 2021 and 2022.
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