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President Says Inflation Rate is Low Under Biden Administration
Inflation rates are soaring like never in history. Mortgage Rates are at 25 year highs. Mortgage rates we 2.5% 18 months ago and today is 7.625% for prime borrowers. Borrowers with sub 680 credit scores are paying 7.75% plus 3.5% in discount points. Home prices are at historic highs. Many would be homebuyers are priced out of the housing market. The mortgage industry lost 50,000 licensed mortgage loan originators from 140,000 to 90,000 and is expected to see more loan officers leave the mortgage industry. Every thing is going up. Car prices have skyrocketed and continues to go higher. Homeowners insurance premiums are increasing like never before. Joe Biden makes a speech a few days ago saying that Inflation is low under his watch. What is this guy thinking?
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2 Replies
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Where is Biden Administration coming up with their numbers touting that the U.S. economy is strong and growing stronger under his administration. This is not true and misleading.
https://www.foxbusiness.com/video/6335907970112
foxbusiness.com
Tomi Lahren, OutKick host of 'Tomi Lahren is Fearless' discusses young conservatives week, the administration's Bidenomics push and Biden's age ahead of the 2024 election.
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The core tension stemmed from the Ukraine war, the COVID-19 pandemic, and supply chain issues. As per my last information upgrade around October 2023, the disruption caused by all of this remained a primary concern for the extensive population regarding inflation.
Current Inflation Context: Inflation Rate: The COVID-19 pandemic left a huge toll throughout the world, and inflation was one of them. In 2022, many states, including the United States, faced 8% levels of inflation that had not been seen for decades. However, throughout 2023, it seems that interest rate increases by central banks and many other factors have stabilized inflation rates.
Factors Contributing to Inflation: The war and the pandemic caused major disruptions within the business cycle, leading to a shortage of goods. However, many inflation rates increased.
In addition, the dual mix of government stimulus and increased consumer spending led to increased price constraints. They even caused entire economies to grapple with instability and resources becoming scarce.
Future Outlook: Economists had multiple outlooks on inflation, but key points to watch were monetary policy changes and GDP growth patterns. Throughout 2023, inflation rates remained moderate.
To understand the latest economic trends, be they inflation or other factors, check out reliable financial news portals or government economics reports. Such sources give the most up-to-date figures and perspectives on the impact of inflation on today’s economic performance.
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