Inflation And A Lack Of Workers Are The Crux Of Biden’s Economic Woes.
President Biden will have to confront head on the economic headwinds that are causing many goods and services to be out of reach for ordinary Americans. (AP News)
“Shoppers are focused on shortages of cars, bath towels and even breakfast cereal. Employers can’t fill the 10.6 million jobs they’re advertising, as Friday’s employment report showed a mere 199,000 jobs gained in December. Prices for almost everything are rising — with forecasters expecting a 7.1% annual increase to turn up in next Wednesday’s inflation report.”
President Biden has the task of confronting an economy unlike any other in modern times. How he navigates these novel waters will ultimately be the basis upon which his Presidency is judged by the public and historians. A do nothing attitude will lead to voter malaise and a desire for urgent change so that is not an option. Therefore, he has to face the macro economic demons head on and tame them before they consume his Administration.
