The disappearance of inflation is one break President Biden seems unlikely to get in his reelection bid.
Everybody wants inflation to get lost. For a while, it looked hopeful. But we can’t quite slam the door on the bugger.
Biden could have worse problems. Inflation is sticking around because consumers are generally in good shape and willing to spend money. That keeps demand strong and prices taut. Economic, which was weaker than expected but still positive. And that followed unsustainably large GDP growth during the second half of 2024.
President Joe Biden arrives at John F. Kennedy International Airport, Thursday, April 25, 2024, in New York. . That kind of hurdle makes Americans skeptical that the economy is really as good as growth or employment data say it is.) hit new highs in March, but has since fallen back by about 3% as bond rates have risen. Stocks have been tumbling on signs of sticky inflation, then jumping back up again as investors think maybe it won’t be all that bad.
What Biden probably does need is for most voters to feel confident that inflation is gone for good. And it’s not … quite … yet … The persistent and unwelcome visitor may still wreak a bit of mischief.
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