Why Biden’s inflation is seemingly uncontrollable
A disconnect between what the economy can deliver and poorly executed policies
COMMENTARY
By Peter Morici - - Tuesday, August 16, 2022
OPINION:
The Federal Reserve and the Biden administration are in a treacherous period. Even if the jobs market ultimately cools, inflation will remain volatile owing to fundamental disconnects between worker expectations and what the economy can deliver and poorly executed federal policies.
During the pandemic, many households experienced a surge in income thanks to large government transfers — household stimulus payments, enhanced unemployment benefits and assistance to privately owned small businesses — even when many folks were not working and businesses were shuttered.
Notably, 68% of those receiving unemployment benefits enjoyed higher incomes than they did while previously employed.
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READ MORE: https://www.washingtontimes.com/news/2022/aug/16/why-bidens-inflation-is-seemingly-uncontrollable/
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