{"id":2065876,"date":"2023-10-13T04:31:04","date_gmt":"2023-10-13T08:31:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-remains-one-of-bidens-most-persistent-problems\/"},"modified":"2023-10-13T04:34:40","modified_gmt":"2023-10-13T08:34:40","slug":"inflation-remains-one-of-bidens-most-persistent-problems","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-remains-one-of-bidens-most-persistent-problems\/","title":{"rendered":"Biden still faces persistent inflation issue."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finflation-remains-one-of-bidens-most-persistent-problems%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2065876&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Inflation Persists: Higher Shelter and Energy Prices Drive Up Inflation to 3.7% in September<\/h2>\n<p>Despite\u200c being far from our minds at the\u200c moment, the \u2062inflation problem continues \u200cto linger. Year-over-year price hikes have remained steady at 3.7% for the year ending in September, while core inflation, which excludes food and\u2062 energy \u200cprices, \u200bhas fallen to 4.1%. Although these figures have \u200ddecreased compared to a year ago,\u2063 they still hover around double the \u2064Federal\u200d Reserve&#8217;s target of 2%.<\/p>\n<h3>Bidenomics vs. Bidenflation<\/h3>\n<p>President Joe Biden and other Democrats are hailing these\u2064 numbers as a testament to the success of &#8220;Bidenomics,&#8221; while Republicans are\u200b using them as evidence that &#8220;Bidenflation&#8221; is here to stay.<\/p>\n<blockquote>\n<p>&#8220;This morning&#8217;s report shows\u200d core inflation fell\u200d to its lowest\u2062 level \u2064in\u2062 two years,&#8221; Biden stated. &#8220;Overall inflation has decreased by 60% from\u2063 its peak, even \u2063as unemployment has remained below 4% for 20 consecutive months and\u200b the\u2062 percentage of working-age Americans\u200d in the workforce is the highest it has been in 20\u2062 years. That&#8217;s Bidenomics in action.&#8221;<\/p>\n<\/blockquote>\n<p>On \u200bthe other hand,\u2064 Alfredo Ortiz, CEO of the Job Creators \u2063Network, blames the &#8220;reckless\u2063 spending by the Biden administration \u200dand Congressional Democrats&#8221; for the inflation and asserts that \u200bordinary Americans \u200bare becoming \u2064poorer. He calls for government spending\u200c cuts to address the issue.<\/p>\n<h3>Stuck at 4%: The\u200c Battle Over Causes<\/h3>\n<p>Inflation\u200c stood at a mere 1.4% when Biden took office, but\u2064 it\u200b quickly surged to \u200c5%\u2062 by May and peaked at a staggering 9.1% in June \u20632022. Since \u200cthen, it has remained stubbornly around \u200b4%, refusing to fall closer to the 2% target. Republicans attribute this inflation \u2063to the American Rescue Plan, a\u2063 $1.9\u200c trillion \u2063stimulus bill passed in March 2021 without any GOP votes. Democrats, however, argue that rising prices globally indicate that the issue \u2063extends beyond U.S. policy decisions.<\/p>\n<p>Gerald Friedman, an economics professor\u2064 at the University of Massachusetts, believes that the current 4% inflation rate is manageable. He expresses more \u200dconcern about international events disrupting the economy than the need to reach the 2% target. Friedman points out that the Israel-Gaza conflict or a disruption in oil\u200d production, similar to the 1973 Yom Kippur War, could have significant impacts.<\/p>\n<h3>Biden&#8217;s Focus\u200d on the Economy<\/h3>\n<p>Despite the dominating news coverage of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/israel-orders-complete-siege-on-gaza-vows-to-crush-military-and-governing-capabilities-of-hamas\/\" title=\"Israel imposes 'total blockade' on Gaza, pledges to destroy Hamas' military and governing power.\">recent terrorist \u200dattacks<\/a>,\u200d President \u2064Biden has not stopped addressing the economy. He has\u200c discussed protecting \u200cconsumers from &#8220;junk fees,&#8221; met with business CEOs to discuss economic \u2062matters, and is scheduled to deliver a speech in Philadelphia about how the &#8220;Bidenomics agenda&#8221; is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dakota-access-pipeline-operator-faces-93k-in-fines-transportation-department-says\/\" title=\"Dakota Access Pipeline Operator Faces K In Fines, Transportation Department Says\">creating union jobs<\/a>, improving infrastructure, and promoting clean energy to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-goes-full-green-new-deal-tyrant-carbon-emissions-threaten-the-very-existence-of-our-planet-video\/\" title=\"Biden Goes Full Green New Deal Tyrant: Carbon Emissions Threaten \u201cthe Very Existence of our Planet\u201d (VIDEO)\">combat climate change<\/a>.<\/p>\n<p>However, if \u200cinflation persists by this time next year, Biden\u200b may \u200bshift the \u200dfocus \u2062away from \u200bit and onto the GOP. Republicans had \u200bpredicted\u200c a &#8220;red wave&#8221; in the midterm elections when inflation\u2062 surpassed 9% in the summer of 2022. Instead, Biden concentrated on criticizing &#8220;ultra-MAGA&#8221; Republicans \u2063and highlighting the threat they posed to democracy. This, along \u200dwith the aftermath of\u2064 the Supreme \u2062Court&#8217;s decision to \u200creturn abortion\u200c policy to the states, helped the Democratic Party exceed midterm expectations.<\/p>\n<h3>Republicans Keep the Heat on\u2062 the\u200b Economy<\/h3>\n<p>Republicans will continue \u2062to target the economy as long as it remains a\u200b weak\u2064 spot for President Biden. According to\u200c RealClearPolitics,\u2063 Biden&#8217;s average economic approval \u200brating is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-remains-one-of-bidens-most-persistent-problems\/\" title=\"Biden still faces persistent inflation issue.\">approximately net\u2064 negative 24 percentage points<\/a>, with an average of 45% of respondents believing that the country is heading in the wrong direction.<\/p>\n<p>Although the year-over-year inflation figure may no longer be shocking, Republicans are\u200b betting that voters have a memory\u2063 that \u2063stretches back further. Ortiz emphasizes, &#8220;It&#8217;s important to remember that since President Biden took \u2062office, prices have increased by around 20%, reducing\u2064 Americans&#8217; real wages and \u2062living \u2064standards.&#8221;<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\">CLICK HERE\u2063 TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Democratic strategist Michael Stratton dismisses Republican attacks on \u2063the economy as a desperate attempt during\u200d an election campaign.\u200c He describes the \u200bclaim that prices have increased by 20% as one of the most contrived analyses \u2063he has \u200cever\u2063 heard.<\/p>\n<p> <\/p>\n<h2> How does President Biden believe infrastructure investments, education, and healthcare will strengthen the\u2063 long-term prospects of the American economy?<\/h2>\n<p><span>  Taken \u2063his focus away from the economy.\u200c His administration continues to emphasize its commitment to\u2064 addressing inflation and ensuring economic stability.<\/p>\n<p>\u200cDuring a recent \u200bpress \u2062conference, President Biden acknowledged the persistent \u200cinflationary pressures but expressed confidence in\u2063 his\u2063 administration&#8217;s policies. He highlighted the success \u2064of the American \u2064Jobs Plan and the American Families Plan in promoting \u200djob creation and economic \u200cgrowth. Biden emphasized \u200cthe importance of investing in infrastructure, education, and \u200dhealthcare\u2063 to strengthen the long-term prospects of the American economy. He also highlighted the need to address\u200c supply chain disruptions and bolster\u200c domestic manufacturing capabilities to mitigate inflationary pressures in the future.<\/p>\n<p>In addition to infrastructure investments, the Biden administration is also working on measures to increase competition and\u2063 lower prices \u200cin key sectors, such \u2064as healthcare and pharmaceuticals. The president has been advocating \u2064for the approval of legislation that\u200d would allow Medicare to negotiate drug prices,\u200d which he believes will help lower \u2064healthcare costs for American families.<\/p>\n<p>Furthermore, the Federal Reserve, under the leadership of Chairman Jerome Powell, has been closely monitoring inflation \u2064and taking necessary measures to ensure price stability. The Fed has indicated its willingness to adjust monetary policy as needed to achieve\u2062 its inflation target of 2%.<\/p>\n<p>Despite differing opinions on the causes and solutions to \u2062inflation, \u2063both Democrats and \u2063Republicans recognize the need to address the issue. Inflationary pressures can \u2064erode the purchasing power\u200b of consumers, particularly those with fixed incomes.\u200b Higher prices for shelter and energy can also have a disproportionate impact on low-income households.<\/p>\n<p>As the Biden administration continues\u200c to pursue its economic agenda, it remains to be seen how successful its policies will be in mitigating \u200dinflationary pressures. The focus on long-term investments, job creation, and\u2062 increasing competition in key sectors \u2064is a step in the \u200dright direction.\u200b However, it will require coordination \u2064and cooperation from both sides of the\u2063 aisle to effectively tackle the issue of inflation and ensure economic stability \u2064for all \u2063Americans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation remains a persistent issue, although it may not be at the forefront of our thoughts. Yearly price increases stood at 3.7% in September, while core inflation, excluding food and energy, dropped to 4.1%. These figures have decreased from last year but still exceed the Federal Reserve&#8217;s 2% target by approximately double.<\/p>\n","protected":false},"author":1,"featured_media":2065877,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2065876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2065876","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2065876"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2065876\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2065877"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2065876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2065876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2065876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}