Stephen Collinson: “Joe Biden’s next political nightmare is inflation, a force that can destroy family budgets and political careers and is being driven by domestic and global factors tough for a president to quickly fix…”
“Inflation is an especially damaging political force because of its immediate impact on the well-being on voters. A rate of 6.2% is well above levels at which policymakers can be relaxed about rising prices and threatens to also wipe out wage gains, in effect giving everyone in the country a pay cut.”
