Americans have soured on the economy, partly because of unusually high inflation under President Joe Biden. Vice Preside
Inflation has fallen since mid-2022 on Biden’s watch, and some of his policies may have helped on the margins, economists say.
The White House gave PolitiFact no supporting evidence for cause and effect, but we checked with economists and found a few Biden policies that may have had some marginal disinflationary effect. By contrast, the biggest lever in slowing inflation is something the White House does not control: the Federal Reserve Board.“When I came into office, Iran had $70 billion in foreign exchange reserves. … By the time I left, they had nothing. They were broke.”
Another factor in declining inflation is also out of any president’s control: oil prices, which have plunged since their summer 2022 peak.Part of this relates to a major economic slowdown in China, which has reduced the demand for oil, lowering its price. Lower oil prices have led to lower commodity prices more generally around the globe, Holtz-Eakin said.Inflation has fallen since mid-2022 on Biden’s watch, and some of his policies may have helped marginally.
FACT SHEET: How the Inflation Reduction Act’s Tax Incentives Are Ensuring All Americans Benefit from the Growth of the Clean Energy Economy
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Kamala Harris goes global as she seeks to bolster her image before 2024Naomi Lim is a White House reporter at the Washington Examiner. She previously reported on crime and politics for News Corp Australia. She returned to Washington in 2015 after interning in Washington, D.C., as an undergraduate. She worked at CNN and the BBC while earning a master's degree in public policy from Georgetown University.
Read more »
Biden Confronts Wave of Antisemitism by Putting Kamala Harris in Charge of IslamophobiaSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Sunak y Kamala Harris discuten en foro sobre seguridad de la inteligencia artificial en Gran BretañaLa vicepresidenta estadounidense Kamala Harris y el primer ministro británico Rishi Sunak se disponen a sumarse a políticos de todo el mundo en un foro dedicado a los riesgos de los avances rápidos en la inteligencia artificial.
Read more »
UK's Sunak discusses AI risks with Kamala Harris at summit before chat with Elon MuskBritish Prime Minister Rishi Sunak, U.S. Vice President Kamala Harris and senior politicians from around the world agreed Thursday at a U.K.
Read more »
Kamala Harris meets with U.N. chief over Gaza aid, UkraineVice President Kamala Harris met with U.N. Secretary-General Antonio Guterres Thursday at an artificial intelligence summit in the U.K. to discuss ways to speed aid to people suffering from the war between Israel and Hamas.
Read more »
33 Times Kamala Harris’ Stepdaughter Ella Emhoff Wowed Us With Her Edgy Fashion ChoicesFrom baring it all to monochromatic chic, and everything in between.
Read more »