Politics Inflation: "This is a bad season for savers," said an economist
Inflation could cost Biden and the Democrats greatly
There is a reason President Joe Biden has gone from describing inflation as “transitory” to listing it as his “top domestic priority.” The last time inflation, now running at a 41-year high, was this bad, rising consumer prices helped make the Democrat in the White House a one-term president. Republicans won the next three presidential elections. Biden would like to avoid this fate. It may be too late for the narrow Democratic congressional majorities, especially in the House. Already disfavored due to recent history and redistricting, inflation appears to be the issue most likely to fuel a red wave in November.
for economist Jean-Paul Pollin, the booklet A will lose "4% of value this year", because of inflation.
Biden has signed the Inflation Reduction Act. Here’s MarketWatch’s rundown of how it will affect your energy bills, investments and drug costs. .
President Biden on Tuesday signed into law the Inflation Reduction Act, Democrats' big economic package. Here's a guide, through MarketWatch reporting, of what's inside the legislation.At a White House ceremony, Biden called the law — which no Republicans voted for — a measure “not just about today. It’s about tomorrow.