Biden risks repeating 'transitory inflation' mistake on economy before midterm elections

Biden risks repeating 'transitory inflation' mistake on economy before midterm elections


The Biden administration said last year that inflation was transitory — before 13 straight months of rising costs cemented the trend. Now, after misreading the threat of inflation, the White House is pushing back against a technical framing of a recession ahead of an expected second straight quarter of economic decline.

But the Biden administration’s efforts to draw lines around what is and isn’t considered a recession may not matter to those feeling the sting of soaring prices.

“That’s fundamentally what the White House has to grapple with,” said Gordon Gray, a former adviser to GOP Sens. John McCain and Rob Portman (OH) and the fiscal policy director at the American Action Forum, a conservative think tank.

Trending: COMING SOON: The First Arrest Will Shock The World [Identity Revealed]…

The Bureau of

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend