Up, up and away!

[Jolly]

Thank you, Mr. Biden.

https://www.usatoday.com/story/money/shopping/2022/04/05/food-prices-inflation-grocery-stores/9477026002/

[89th]

To be fair, it's a combo of Trump and Biden. Trump started the snowball rolling down the hill, Biden just watched it and yelled "weeee!" Although for Trump it was a bit out of his hands... pandemic, supply chain, and monetary decisions.

[Jolly]

I've seen the polls. You're in the minority in assigning blame. A very small minority...

[89th]

LOL I don't care what polls say, I'm pretty confident on my fundamental knowledge of how inflation comes to be. Actually, let's look at numbers which, normally, are an objective way to analyze a topic. Normally. Anyway... inflation, for example, is often measured by the Consumer Price Index (CPI). The current increase started either in May 2020 or Nov 2020, depending on how you analyze the chart. Either way, during both months Trump was still the President. Heck, even if you say it started February 2021, it is foolish to think a President has that type of impact in a matter of days on the CPI.

[Jolly]

Perception is reality. Bidinflation is now an oft-used word among normal people.

Charts be damned. He owns this economy.

[89th]

@Jolly said in Up, up and away!:

Bidinflation is now an oft-used word among normal people.

First I've heard of that word, probably not the last.

Dems are scared for the 2022 and 2024 elections, I'm sure. Even if it was bad timing, they are not in a good position.

[George K]

As @89th and @jon-nyc have pointed out, the influx of cash began in early-mid 2020. The goal was, as I understand it, to prevent the economy from collapsing due to the SARS-CoV-2 pandemic. I'm surprised that no one seems to have considered the long-term impact of just printing a trillion dollars, or more.

However, that hasn't stopped, has it? It's at a slower pace, but it's still climbing.

Who'da thunk it?

[Jolly]

In Mr. Biden's defense, the Dems did trot out several well-known economists (16, IIRC) who said the huge infusion of money would not cause marked inflation.

I have very little respect for economists in many situations.

[George K]

A long, and interesting read:

https://www.nationalreview.com/2022/04/a-comprehensive-primer-on-the-fed-and-inflation/

[taiwan_girl]

I agree with @89th on this topic, which should not be surprise to anyone. LOL

@George-K Interesting article. The one thing I would counter argue is that the US economy is the "envy" of much of the world. I think one of the reasons is that the Central Bank operates pretty independent of politics.