Heard a lot about ‘Bidenflation’ lately?
It’s a clunky portmanteau, so if “Bidenflation” is on the way out, our ears might be just as grateful as our wallets.
Relief does seem to be coming on both counts. By a variety of measures, voters are gradually growing less prone to inflation and more confident that a solid economy will last for a while. If you squint, there’s a corresponding improvement in President Joe Biden’s reelection odds.
Inflation peaked at 9% in June 2022 and has since dropped to a much more manageable 3.2%. But the shock of spiraling prices has stayed with consumers, who have remained gloomy