Derec
Contributor
Monetary policy, i.e. the Fed finally raising the interest rates, and quite steeply too.Seriously though - to what do you attribute the lowering of the inflation rate from 9% to 2.5% in less than three years, if not the "spendapalooza" (I think that's the infrastructure bill) of the inflation reduction act?
Government spending is generally inflationary, as it increases money sloshing around in the economy.
Year and a half is more than 1/3 of the presidential term. And yes, Biden/Harris policies can certainly be blamed for part of the inflation. The Pandemic era spending such as extra unemployment money and extra child tax credits were kept on long after the economy reopened. That is inflationary.Knocking down the American inflation rate by two thirds while there's still global inflation from the Trump/Chyyna pandemic is no mean feat IMHO. Why are people so reticent to give credit where it's due? You can't blame inflation on Biden/Harris, then attribute its control to other factors. Blaming it on Biden/Harris in the first place is pretty silly. It peaked less than a year and a half after their administration began.
Pandemic played a big role in the global inflation, but so did actions by governments, including US federal government.Who thinks Presidents can just cause instant inflation anyhow? Let alone GLOBAL inflation?
That takes years of fucking up, in reality. Thanks, Donald.
Trump was certainly not to blame for this inflation as he wasn't even in office.
Biden certainly wasn't perfect as president. His biggest fault was that he was too accommodating to his party's left fringe. Remember when he extended the eviction moratorium (even though he knew he did not have the authority to do that) just because of pressure by Cori Bush?