Research by the Heritage Foundation found the average American household has lost the equivalent of $7,400 in annual income due to inflation and high interest rates.
and rising interest rates eat away at their finances, according to research by the Heritage Foundation.and found in their latest report released Thursday that the average American household has lost the equivalent of $7,400 in annual income since Biden's inauguration Jan. 20, 2021. The income loss represents an increase of $200 from September, when the think tank's research found afor the average American household dating back to the start of Biden's term.
President Biden delivers a speech on infrastructure spending at Carpenters Pittsburgh Training Center, Wednesday, March 31, 2021, in Pittsburgh. , which found inflation fell by 0.1% month-over-month but remained at about 6.5% on annual basis — which is about three times the pre-pandemic average despite being the lowest headline number since October 2021.Federal Reserve
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