The one-year anniversary of Joe Biden’s promise that inflation in the U.S. would not be long-term has been reached with costs continuing to spiral and a poll showing Americans’ distrust of the president’s ability to ease the strain on their wallets.
Biden said on July 19, 2021, the price rises that followed the easing of COVID pandemic restrictions would not last and said “were we ever to experience unchecked inflation in the long term,” that would be a “real challenge to our economy.”
“Most of the price increases we have seen are expected to temporary,” said Biden a year ago, as he described how he had instructed Federal Reserve Board Chair Jerome Powell to do what he “deems necessary” for an economic recovery.
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