Just days ago, Biden was emphasizing that his policies (he says) are driving the economy forward and controlling inflation.
Today, the inflation metric came in stubbornly high, perhaps leading to the Federal Reserve setting a key interest rate up by a full percentile point next week.
High inflation, 6% (and rising) mortgage rates, a crashing stock market, hints of a recession, sharp drop in productivity, massive budget deficit spending, a looming railway strike, and a Federal Reserve that wants to increase unemployment – this seems a big challenge to overcome on the political side.
