Home News Biden’s Old ‘0% Inflation’ Comment Comes Back to Bite as McKinsey Says...

Biden’s Old ‘0% Inflation’ Comment Comes Back to Bite as McKinsey Says New Biggest Splurge for U.S. Consumers is Groceries

April 24, 2024

by Caleb Naysmith
Yahoo! Finance

According to a recent CBS News poll, 39% of Americans believe the economy is “good,” with 57% of respondents viewing the economy as “bad.”

It’s an issue President Joe Biden has to grapple with as his reelection campaign gears up, especially given that 65% of Americans remember the economy as good under former President Donald Trump, according to the poll.

In August 2022, Biden announced “zero inflation” at a time when the consumer price index (CPI) reported it was 8.5%. While he was referring to 0% month-over-month inflation at the time, it rubbed many the wrong way given the negative perception of the economy, with one Republican senator calling the claim “gaslighting.”

Continue Reading at Finance.Yahoo.com…

© 2024 Inflation Café

Inflation Café (IC) content is informational only and based on information available at the time of creation. It is not an offer or solicitation, nor does it provide investment, tax, or legal advice. It may not consider your specific financial circumstances or objectives and may not be suitable for you. IC content is not a recommendation to buy or sell any securities. Readers should consult their own professional advisers and conduct their own independent investigations before making any investment decisions. IC does not guarantee the accuracy or completeness of its content or any third-party information it uses, which has not been independently verified by IC. Readers are cautioned not to rely solely on IC content for investment decisions.

IC and its owner may have financial interests in the companies discussed and may trade such securities without prior notice. IC is funded by sponsor advertisements, with payments ranging from five to ten thousand dollars monthly. IC does not charge its viewers/listeners/readers any fees. By accessing IC content, users agree that IC and its affiliates are not liable for any inaccuracies, omissions, or representations in the content provided.