How inflation could keep Biden from a second term
President Joe Biden has two obstacles standing in his way of reelection. His failure at the border, and the crippling inflation caused by his Bidenomics agenda. Inflation stood at 1.4% the month Biden took office and then skyrocketed to 9.1% in June 2022 before falling to 3% a year later. But it has been stuck near that still-elevated rate since. The president’s critics have dubbed the phenomenon “Bidenflation.” With record interest rates sitting at above 5% the economy has come to a stand still. Federal Reserve Chairman Jerome Powell claims recent high inflation has made it less likely we will see interest rates cut in the coming weeks and months. Initially the FED had predicted three rate cuts for 2024. But the FED wants to see inflation lower to 2% before they make any cuts. Without those cuts, Mortgage rates are at record highs and getting a loan can feel impossible. Making owning a new home, and even having children feel out of reach. On this episode of 360 Views, Scottie Nell Hughes discusses with her panel (Garland Nixon, Political Commentator; Steve Gill, Political Analyst and Radio Host; Steve Hayes, Tax Attorney and Chairman of Americans for Fair Taxation) if the Biden administration is destroying the American Dream.
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