12-13-2023, 09:26 AM
(12-12-2023, 08:45 PM)Luvnit2 Wrote: You just answered your own post. Due to high (poor inflation) since Biden the Federal Reserve had to raise interest rates to slow down inflation. Who created the inflation with poor fossil fuel and other bad economic policies? in 2020, inflation for 2020 was 1.23%
U.S. inflation rate for 2020 was 1.23%, a 0.58% decline from 2019. U.S. inflation rate for 2019 was 1.81%, a 0.63% decline from 2018.
It is not just interest rates on mortgages, it is auto loans, personal loans and any loan killing people. Add in the student debt Biden promised to get rid of and people are hurting.
Truth be told, the Biden economy is great for me personally. My mortgage is paid off and have a cash now getting much better interest. But, the economy is not about people doing very well, it is an issue for those who are not.
Inflation is now over 20% since Biden took office, it is good to see the trend getting better, but inflation is accumulative, only way people quit feeling it is for wage growth to start outpacing wage growth (by a large margin) or for negative inflation (not likely to happen). The Biden border policy has also negatively impacted the economy, helping wages to stay lower and also more crime (theft, car jacking) equals higher prices.
You keep throwing out this 20% inflation number. Can you please provide a source? Official numbers are less than half that number
Fueled by the pursuit of greatness.
