"No Tax on Tips" Vote Trump

[SunsetBengal]

(06-18-2024, 03:25 PM)CJD Wrote: Considering inflation rates similar to (or worse than) America occurred worldwide, I question how much Biden's policies had an effect on this, especially considering the largest inflation rate increase from the previous year was 2021 (3.46% increase from 2020). In order for Biden to be responsible for that, his policies would have had to have been enacted incredibly quickly, especially since policies tend to create a lagged response in terms of their reflection in the economy.

For example, research has shown that federal fund rate changes typically start affecting the most responsive prices about 18 months after enactment. If Biden's policies that you vaguely alluded to were 3 times as fast to affect the market, 2021's inflation rate would likely still not have been noticeably affected.

Given the global inflation rates in that time frame and the timing of the inflation rate increases, I find the odds that Biden's policies caused the inflation to be doubtful.

But if you have resources, I'd be open to reading them.

In that linked article, the conclusions were presented as such:


Now, I am not one to blame Trump's rate cuts in 2019 and early 2020 for the inflation rises in the 2020 to early 2022 time frame, but this researcher thinks it's possible that the inflation rates you're blaming on Biden might actually be Trump's fault.

Wouldn't that be funny if it were the case?

One has to be careful when quoting statistics like that one. Some of the 'adjusted numbers' have been recalculated omitting the cost of fuel and food, so that the claimed inflationary number is smaller than what was/is actually felt by the average consumer.  Most average American consumers buy food and fuel.