{"id":2245697,"date":"2024-05-16T06:11:02","date_gmt":"2024-05-16T10:11:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-looks-to-pivot-on-inflation-but-it-may-be-too-late\/"},"modified":"2024-05-16T06:12:49","modified_gmt":"2024-05-16T10:12:49","slug":"biden-looks-to-pivot-on-inflation-but-it-may-be-too-late","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-looks-to-pivot-on-inflation-but-it-may-be-too-late\/","title":{"rendered":"Biden aims to address inflation, timing may be crucial"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/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%2Fbiden-looks-to-pivot-on-inflation-but-it-may-be-too-late%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=2245697&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--><p>President Joe Biden is addressing the topic \u2063of decreasing inflation, a crucial factor for the\u2064 2024 election. Despite claims of a significant drop and\u200d hopes for a Federal \u200dReserve <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-treasury-secy-yellen-supports-powell-for-reappointment-as-fed-chair\/\" title=\"Report: Treasury Secy. Yellen supports Powell for reappointment as Fed chair\">interest rate cut<\/a>, the GOP continues to criticize the administration on \u2063rising prices. The debate on\u200b inflation and \u2064economic\u2063 policies intensifies as \u2062the election approaches. President \u2062Joe Biden is focusing on combating declining inflation, which plays a pivotal role in the upcoming \u200b2024 election. While he\u2064 highlights a\u2062 notable \u200cdecrease and anticipates Federal Reserve actions,\u2064 the GOP persists in criticizing \u2063the administration for escalating \u200bprices. The discourse\u200b on inflation and economic strategies grows\u2064 more intense as the\u2064 election draws\u200d nearer.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>President <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/joe-biden\/\" target=\"_blank\" rel=\"noopener\" title=\"Joe Biden\">Joe Biden<\/a> wants to talk about falling inflation. Whether voters believe him could decide the outcome of the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/2024-elections\/\" target=\"_blank\" rel=\"noopener\" title=\"2024 election\">2024 election<\/a>. <\/p>\n<p>Biden likes to point out that <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\" target=\"_blank\" rel=\"noopener\" title=\"inflation\">inflation<\/a> has tumbled from its high of 9% in June 2022, even <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3005344\/white-house-responds-biden-debunked-9-percent-inflation-claim\/\" target=\"_blank\" rel=\"noopener\" title=\"inflation\">claiming<\/a> it was that high when he came into office. But prices are still rising and are far above where they were when Biden entered the White House.<\/p>\n<p>\u201cOn Wednesday, the country hit a sad milestone: Inflation under President Biden hit 20%,\u201d Job Creators Network CEO Alfredo Ortiz said following the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/washington-post-contributor-says-gas-prices-actually-arent-that-high\/\" title=\"Washington Post Contributor Says Gas Prices \u2018Actually Aren\u2019t That High\u2019\">latest consumer price index report<\/a>. \u201cAs a result, ordinary Americans face a cost-of-living crisis and declining living standards, with price increases outpacing wages.\u201d<\/p>\n<p>With that figure in mind, Republicans are going to harp on \u201cBidenflation\u201d as an evil force zapping away earnings regardless of what happens from here until Election Day.<\/p>\n<p>\u201cNot one thing is cheaper under Crooked Joe \u2014 food, gasoline, cars, trucks, rent, and mortgages are all through the roof,\u201d Trump said in a <a href=\"https:\/\/twitter.com\/TrumpWarRoom\/status\/1790743132138524992?utm_medium=email&#038;utm_source=ncl_amplify&#038;utm_campaign=240515-icymi_video_statement_from_president_donald_j_trump_on_bidens_inflation_tax&#038;utm_content=ncl-xqghJ2XYrx&#038;_nlid=xqghJ2XYrx&#038;_nhids=vYLlu3QVGL\" target=\"_blank\" rel=\"noopener\" title=\"video\">video<\/a> released Wednesday morning. \u201cBiden\u2019s price hikes are killing the American dream.\u201d<\/p>\n<p>Biden is still holding out hope the <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/federal-reserve\" target=\"_blank\" rel=\"noopener\" title=\"Federal Reserve\">Federal Reserve<\/a> will cut interest rates before November, giving him a win he can sell on the campaign trail as \u201cBidenomics.\u201d The <a href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/3003445\/inflation-fell-in-april-for-second-time-in-2024-in-welcome-news-for-fed\/\" target=\"_blank\" rel=\"noopener\" title=\"April CPI report\">April CPI report<\/a> was a step in the right direction as inflation fell slightly to 3.4% year-over-year.<\/p>\n<p>\u201cInflation has come down very significantly,\u201d David Madland, an economist with the Center for American Progress, said. \u201cIt\u2019s pretty low, and if you look at the latest news, in certain ways, it\u2019s really quite low. The question is what the Fed will do about it.\u201d<\/p>\n<p>The Fed\u2019s target inflation rate is just 2%, meaning prices are still rising faster than the agency would like. But Madland thinks an interest rate cut before the fall is a realistic proposition.<\/p>\n<p>On the wider issue of what spiked inflation in the first place, he pointed to supply chain crunches brought on by lockdowns in 2020 and 2021.<\/p>\n<p>\u201cInflation rose in every country, no matter what response they had to COVID-19,\u201d he said. \u201cIf you compare the U.S. inflation rate to any other country, you\u2019d say we are doing pretty well. So presumably, Biden has something to do with why we are doing better than most other countries. He should get some credit.\u201d<\/p>\n<p>Republicans point to other factors as the cause, especially spending bills like the $1.9 trillion American Rescue Plan, which Congress passed in March 2021 with no Republican votes. Even if consumers don\u2019t blame government spending, most will remember how much things cost four years ago.<\/p>\n<p>The time to change those perceptions may be closing. <em>RealClearPolitics<\/em> analyst Sean Trende <a href=\"https:\/\/www.realclearpolling.com\/stories\/analysis\/is-trump-nostalgia-enough\" target=\"_blank\" rel=\"noopener\" title=\"wrote\">wrote<\/a> last week that \u201cthe political science literature is pretty consistent that this is the time when the electorate\u2019s views about the election start to harden, particularly with respect to the economy.\u201d<\/p>\n<p>Biden is focusing on the positive, which is that inflation is falling. In fact, he has <a href=\"https:\/\/www.cnn.com\/2024\/05\/14\/politics\/fact-check-biden-inflation-when-he-became-president\/index.html\" target=\"_blank\" rel=\"noopener\" title=\"claimed\">claimed<\/a> twice that inflation was at 9% the day he took office when it was actually 1.4% and started rising later in the spring.<\/p>\n<p>White House press secretary Karine Jean-Pierre <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/3005344\/white-house-responds-biden-debunked-9-percent-inflation-claim\/\" target=\"_blank\" rel=\"noopener\" title=\"defended the comments\">defended her boss\u2019s comments<\/a> during Wednesday\u2019s news briefing. <\/p>\n<p>\u201cThe point he was making is that the factors that caused <a href=\"https:\/\/www.washingtonexaminer.com\/tag\/inflation\/\" target=\"_blank\" rel=\"noreferrer noopener\">inflation<\/a> were in place when he walked into the administration,\u201d she said. \u201cThe pandemic caused inflation around the world by disrupting our economy and breaking our supply chains.\u201d<\/p>\n<p>A reporter had asked if Biden was deliberately misleading the public or if he just didn\u2019t realize that inflation was at 1.4% when he took office.<\/p>\n<p>\u201cReopening after the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-forced-to-respond-to-bidens-debunked-inflation-claim\/\" title=\"White House compelled to address Biden's disproven inflation statement\">pandemic unavoidably increased inflation<\/a> by unleashing pent-up demand,\u201d Jean-Pierre continued. \u201cAnnualized core CPI in the second term of 2021 was 9%. So he was talking about the factors that were in place that led to that.\u201d<\/p>\n<p>Biden\u2019s <a href=\"https:\/\/www.realclearpolling.com\/polls\/approval\/joe-biden\/issues\" target=\"_blank\" rel=\"noopener\" title=\"approval rating\">approval rating<\/a> on the economy overall is 39% but falls to 34% when pollsters ask about inflation alone. A recent ABC News-Ipsos <a href=\"https:\/\/www.langerresearch.com\/wp-content\/uploads\/1232a22024Election.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">poll<\/a> found that Biden and Trump are neck and neck but that <a href=\"https:\/\/www.washingtonexaminer.com\/news\/campaigns\/presidential\/2992010\/trump-outpacing-biden-in-voter-trust-ahead-of-2024-election-poll\/\" target=\"_blank\" rel=\"noopener\" title=\"Trump leads\">Trump leads<\/a> on the economy.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>The Biden campaign will continue promoting other economic figures, such as unemployment which remains near historic lows, and the more than 15 million jobs that have been added to the economy since he took office. But it will also be closely watching the monthly inflation reports, as will much of the electorate.<\/p>\n<p>\u201cWe want to make sure that we\u2019re fighting inflation and continue to do so,\u201d Jean-Pierre said. \u201cAnd so we understand we have a lot more work to do. We get that.\u201d<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden seeks to address declining inflation, a crucial factor for the 2024 election. Despite citing a drop from 9% in June 2022 and attributing high levels to when he took office, prices continue to rise. Voter perception of his handling of inflation could shape the election&#8217;s result<\/p>\n","protected":false},"author":2635,"featured_media":2245698,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/05\/AP23348624012708.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2245697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/wex-s3.s3.us-east-1.amazonaws.com\/wp-content\/uploads\/2024\/05\/AP23348624012708.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2245697","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\/2635"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2245697"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2245697\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2245698"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2245697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2245697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2245697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}