Everything is almost twice as expensive as it was in 2020. Gas is three times what it was. When Trump ran for president, he promised a good economy, and delivered it. Joe promised nothing, and we got far worse than nothing.
Here’s the bad news. Federal Reserve creating of money, or running up large deficits of debt, may not be the reason that we have inflation.
Quantitative Ease on the order of trillions of dollars has been going on since 2009. And yet from 2009 until 2021 there was no inflation to speak of.
The reason this is such bad news is that the measures being taken to try to stop inflation may be useless. They presume that money creation, and money supply, are the cause of inflation. But that didn’t happen for well over a decade. Money was being created whimsically and those years just the way it was in recent years, but there was no inflation. The Fed was desperate to get inflation up to 2%, but it didn’t happen.
So it may not be Biden’s fault. We don’t have any idea who’s fault it is. There is inflation in other countries and Biden has no impact on those.