The US Fed may kill the Biden Presidency
Apr 5, 2024 14:59:35 #
t is no secret that one of President Biden’s key weaknesses in the upcoming presidential election is the economy. A USA TODAY/Suffolk University poll in March put Trump at 40pc, just ahead of Biden on 38pc. The same poll showed many Americans remain undecided; among those surveyed inflation and the economy were listed as the most important issues determining their vote.
As such, a core problem for Biden is the recent price rises and resultant cost of living crisis. In the past few months, political strategists have marveled at the fact that the economy under Biden was growing (at 3.2pc in the fourth quarter of 2024) but polling on Biden’s performance on the economy was dismal.
A recent paper led by former treasury of the secretary Larry Summers has helped clear up the discrepancy. Summers and his co-authors show that if we adjust American inflation data to consider changes in methodology that have taken place over the past few decades, we see inflation not peaking at 9pc, as the official data indicates, but rather at 18pc. The paper also suggests that inflation measured in line with historical norms would have been 8pc at the end of 2023, not the 3pc shown in the official statistics.
https://www.msn.com/en-us/money/markets/the-us-fed-may-kill-the-biden-presidency/ar-BB1l84oB?ocid=msedgdhp&pc=U531&cvid=905a93a9b7a24f7c9780c9a4909e223a&ei=39
As such, a core problem for Biden is the recent price rises and resultant cost of living crisis. In the past few months, political strategists have marveled at the fact that the economy under Biden was growing (at 3.2pc in the fourth quarter of 2024) but polling on Biden’s performance on the economy was dismal.
A recent paper led by former treasury of the secretary Larry Summers has helped clear up the discrepancy. Summers and his co-authors show that if we adjust American inflation data to consider changes in methodology that have taken place over the past few decades, we see inflation not peaking at 9pc, as the official data indicates, but rather at 18pc. The paper also suggests that inflation measured in line with historical norms would have been 8pc at the end of 2023, not the 3pc shown in the official statistics.
https://www.msn.com/en-us/money/markets/the-us-fed-may-kill-the-biden-presidency/ar-BB1l84oB?ocid=msedgdhp&pc=U531&cvid=905a93a9b7a24f7c9780c9a4909e223a&ei=39
Apr 6, 2024 10:50:50 #
Two things, the people they are saying are undecided may just be those people are praying for another choice since both are horrible. Second the rate of inflation is calculated on things that rarely effect most of us such as groceries.
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