Reported 7 months ago
Inflation is returning to normal levels, signaling positive news for consumers and President Biden's reelection prospects, although underlying concerns persist. Retailers like Walmart and Target are slashing prices on everyday items due to possibly heightened consumer price sensitivity amidst dwindling savings and job security worries, with the personal savings rate dropping to 3.6%. Additionally, there has been an increase in unemployment insurance claims and a decrease in consumer confidence, prompting concerns about the economy's trajectory. While most economists anticipate continued growth, the situation remains uncertain and could impact Biden's approval ratings, especially if inflation decline is due to financial stress rather than improved conditions.
Source: YAHOO