Reported about 11 hours ago
During Joe Biden's presidency, inflation emerged as a significant challenge, hitting a 40-year high in 2022, which impacted voters’ perceptions heading into the 2024 election. Overall inflation rose by 21.2% from 2021 to 2024, outpacing earnings increases of 19.4%, leading to decreased purchasing power for families. Various factors including supply chain disruptions, government stimulus, and geopolitical events exacerbated the situation. Despite aggressive measures from the Federal Reserve to reduce inflation, voters continued to blame Biden for the rising costs of necessities like housing and food, contributing to the political consequences for his administration.
Source: YAHOO