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That was bound to happen with the 8-9% inflation we had during the Biden years. 2026 will likely see a similar decline thanks to Trump’s war in Iran.
by unnamed76ri 2mo ago
That was bound to happen with the 8-9% inflation we had during the Biden years. 2026 will likely see a similar decline thanks to Trump’s war in Iran.
- cma 2mo agoHow much of inflation during Biden years was from Trump? For instance, Trump agreements to restrict oil production after covid lasted deep into Biden's term. The US still did better on inflation than most comparable peers in the aftermath of covid.
- smallmancontrov 2mo agoWe let Trump print $4T in an election year and Biden print $2T in four years. Trump was going 40mph in the parking lot, Biden slowed down to 5mph, and while there is a legitimate discussion to be had about whether or not the latter was too fast when someone is spazzing out about the 5mph and ignoring the 40mph, it's because they have an agenda. Source: https://fred.stlouisfed.org/series/WALCL https://fred.stlouisfed.org/series/WALCL
- deleted 2mo ago[deleted]
- jm4 2mo agoA big part of it was like $5T in covid stimulus, most of which happened under Trump. Biden piled some more on, probably unnecessarily. It felt like we were balancing on a razor's edge and maybe starting to come out of it by the end of 2024. A lot of inflationary policies since then.
- jacobolus 2mo agoThe biggest problems were various supply shocks associated with the pandemic and its aftermath and the Russian invasion of Ukraine. The Biden admin brought down inflation much faster than even optimistic economists predicted, while maintaining full employment and avoiding a recession. The US economy during that period significantly outperformed most other wealthy countries. (As one indicative example, the cover story of The Economist from October 2024 was titled The American economy: The envy of the world.) Since then we've had a wide range of completely self-inflicted policy faceplants, including notably several rounds of illegal tariffs and a war with Iran.
- hamper653 2mo agoThe American president: The laughing stock of the world.
- culi 2mo agoThe inflation was obviously mostly due to Covid and the invasion of Ukraine. Gas prices reached their highest points in 2022. https://www.gasbuddy.com/charts https://www.gasbuddy.com/charts
- energy123 2mo agoBiden's ARP independently caused inflation according to multiple central bank analyses. However, you are also correct that Trump pressuring OPEC to cut oil production at the end of his first term did cause additional inflation in Biden's term.
- hparadiz 2mo agoAll of it. lol
- eru 2mo agoWhy was that bound to happen? Inflation also raises nominal wages. It's not clear what impact inflation has on the relative price of labour vs goods and services.