U.S. president Biden and his administration predicted lower inflation forecasts as officials announced Biden’s proposed 2023 budget plan. Economics
Biden Administration Lowballs Inflation Predictions, Report Says Americans Are 'Fixated' on Dollar Value
For instance, data shows that home prices have surpassed the rate of inflation by a long shot. “Home prices have increased 1,608% since 1970, while inflation has increased 644%,” explains a recentWhite House economist Cecilia Rouse and the Biden administration are predicting inflation will subside the coming year.
There’s tremendous uncertainty, but we and other external forecasters expect that inflation will ease over the coming year.Marketwatch.com author, Victor Reklaitis, said the predictions don’t “look realistic” after the Biden administration explained its position about inflation in the future. Quoting analysts at Beacon Policy Advisors, the report further noted that the Biden administration’s forecasts could become ammo for the Republican party.
published by NBC calls people’s angst against inflation a “money illusion,” one that allegedly bolsters emotional responses, rather than rational responses.Corporate media’s narrative has changed over and over again as inflation was once “transitory,” then it was “good for you,” then it was caused by every excuse under the sun except the Fed’s monetary expansion, and now inflation is becoming illusionary.
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