https://thehill.com/opinion/finance/3507723-its-biden-v-inflation-and-bidens-losing/
President Biden wants Americans to know: Curbing inflation is his top, top, top priority.
He recently penned an op-ed published in the Wall Street Journal with this headline: “My Plan for Fighting Inflation.” The plan didn’t contain much new in the anti-inflation category, but it did contain a red alert, which may have been the point.
The piece prepared the public for an economic slowdown, the likely result of the Federal Reserve’s commitment to reining in its reckless monetary policy. Biden warns that in coming months “growth will look different” and forecasts that job gains will drop from recent monthly totals of 500,000 or so and head lower, to maybe about 150,000.
This will not be “cause for concern,” Biden writes, “it will be a sign that we are successfully moving into the next phase of recovery…”
The last thing Americans were told not to worry about was inflation, so that advisory gives us pause. It was last July – when the Consumer Price Index came in at 0.9 percent, significantly higher than the prior month’s 0.6 percent price increase – that Biden gave an address celebrating the bang-up job he had done in his first six months in office.
He assured us: “Some folks have raised worries that this could be a sign of persistent inflation. But that’s not our view. Our experts believe and the data shows that most of the price increases we’ve seen are — were expected and expected to be temporary.”
