The Federal Reserve’s plan to cut rates reflects optimism in the U.S. economy, potentially aiding Joe Biden’s 2024 election bid.
Inflation has decreased and the Fed’s announcement that interest rates remained between 5.25% and 5.50% has buoyed markets.
However, public sentiment towards Biden’s handling of the economy remains critical, with many blaming him for inflation and economic policies. (Trending: Ousted Democrat Who Filmed Explicit Tape Blames Homophobia)
Thanks to President Joe Biden and #Bidenomics, our country is moving again:
– 3.7% unemployment
– Over 14 million jobs added
– GDP growth 5.2%
– Dow Jones at record high of 37k
– Inflation zero last month
– Over 800k new manufacturing jobs
– Strongest recovery in G7
-… pic.twitter.com/stKUaZVsCa— Chris D. Jackson (@ChrisDJackson) December 13, 2023
Inflation has ranged from 3.1% to 9.1% in the past year.
Ed Krassenstein wrote, “This is exactly what I’ve been trying to say for the past year and a half.”
“The main cause of inflation has nothing to do with Joe Biden,” claimed the journalist.
“The inflation that we saw in 2022 and 2023 is mostly caused by the supply shock we saw due to COVID, and the workforce shortage that we endured due to COVID,” continued Krassenstein.
“When supply is held low and demand jumps due to COVID subsiding, prices have nowhere to go but up,” he added.
“Today Federal Reserve Chairman Powell confirmed this.”
“Don’t believe me, listen for yourself,” wrote Krassenstein.
While some see the Fed’s move as a positive sign for Biden, others remain skeptical, emphasizing ongoing economic challenges.
Conservative political commentator Andrew of Don’t Walk, Run commented, “Inflation is down to 3.2 percent after hitting a record high of 9 percent and we’re supposed to celebrate it.”
“Wages are rising, but they have not kept up with inflation, and we’re supposed to thank our lord and savior Joe Biden,” he continued.
“Gas prices are lower than their record high last year, but still very high and we’re supposed to bend over and vote Democrats?” he added.
According to a FiveThirtyEight poll, “55.5% of American voters disapproved of the president, while 38.6% approved of him.”
Biden’s approval ratings indicate a tough road ahead in convincing voters of his economic stewardship.
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