Biden’s Economic Dream Is Becoming Reality

Politico: “A White House that has bet Biden’s political future on the economy’s resilience — so much so that they’re branding it with the president’s name — got the latest encouraging sign Wednesday that its strategy is paying off, with new data showing a sharper than expected slowdown in consumer costs.”

“The measure is a major reversal of fortune for Biden, after two years battling soaring inflation and accusations his agenda had contributed to the pain. But it’s just the latest in a string of economic developments that’s bolstered the administration’s confidence it can set the U.S. on a glide path without first plunging it into a downturn.”

Playbook: “Top Biden advisers are reluctant to be seen as taking a full victory lap. Even as they hit the road touting ‘Bidenomics,’ they have their eyes to three big potential storms on the horizon: (1) the mass resumption of student loan payments coming this fall; (2) a likely government shutdown later this year; and (3) the possibility that additional interest rate hikes could still push the economy into a downturn.”