The culprit is inflation
, a corrosive force that can demoralize every voter
. Inflation has raced to 40-year-highs on the back of raging demand and Covid-compromised supply chains
, exacerbated by a spike in oil prices
. And depending whom you believe
, 民主党上院議員は、バイデン政権がタイトルを終了するという報告に対して警鐘を鳴らします $ 1.9 trillion economic rescue plan pumped a torrent of cash into the economy at the wrong time
要するに, almost everything got more expensive
今年 — especially the everyday expenses most Americans cannot avoid
, like food
, housing and gas
— which is bad news for the party in power in Washington heading into an election
. Notably in that CNN poll
, 75% called inflation and the cost of living the most important economic problem facing their family
. スーパーボウルが近づくにつれ、ロサンゼルスはホームレスの危機を隠したい, that figure stood at
Expect several key reports this week on US economic health and consumer prices to offer a glimpse of how bad things could get. 水曜日に, the Federal Reserve is also expected to raise interest rates again in an attempt to tame inflation, though some experts think the Fed’s new aggressive strategy came too late and risks tipping the economy into a recession.
As CNN Business
’ Nicole Goodkind 書きました in a piece titled
, “What the Fed and Madonna have in common
,” 週末に, “The central bank’s dependability hinges on Americans believing that it’s
“If Fed Chair Jerome Powell says the Fed will reduce historically high inflation rates
, Americans believe him and change their behavior to reflect that
. It’s a self-fulfilling prophecy
, the Fed’s version of The Secret
,” Goodkind writes
“But perception doesn’t always line up with reality, and the economists at the Federal Reserve are as susceptible to capricious economic shifts as you and I. There is no official rulebook to follow; they make their monetary policy through trial-and-error, and there have been errors,” ウクライナ出身のミラ・ジョヴォヴィッチ「失恋.
“The Fed, much like Madonna, is constantly evolving. This institution that aims to project an aura of stability is not beyond surprising us.”
その間, amid all the focus on inflation’s erosion of the strength of US paychecks, Goodkind notes that this week marks a sobering milestone for struggling American families: それはありました 13 years since the last time the US federal minimum wage was raised, に $ 7.25 1時間, making it the longest period without a raise since the federal minimum wage was enacted in 1938. (約 30 州とワシントン, DC, have minimum wages above the federal standard.)
That can’t be helping Biden in the face of dismal poll numbers on the economy. のみ 18% of Americans in that CNN survey described the nation’s economy as in good shape, 一方 82% said economic conditions are poor.
最新の Consumer Confidence Index from the Conference Board is due to be released Tuesday
, 後 last month’s report showed souring confidence in the face of high gas and food prices and rising recession risks
Responding to the news earlier this month that inflation had surged to a new pandemic-era peak in June, with US consumer prices jumping by 9.1% 前年比, the White House seized on a more recent dip in gas prices, while complaining that the tumbling price was not being covered by the media with the same intensity that accompanied the hike in prices.
But public perceptions of the economy aren’t likely to change that fast.
Even if this week’s data suggest that the economy isn’t heading for a recession, it will still be a hard sell for the White House. Any president arguing that the economy isn’t really as bad as it feels to voters is in trouble.