Inflation is now, incontestably, the main problem for the citizens, and voters are giving the Biden administration low marks for dealing with it. This can be a political disaster for Democrats, who’re battling to retain their Home and Senate majorities in extremely unfavorable circumstances.
It’s also a problem for institution economists—in academia, the administration and the Federal Reserve—most of whom misjudged the difficulty till the truth of excessive, rising and chronic inflation grew to become too apparent to disclaim.
