Tornado Alley (PROG)

[blackhawks]

Bottom line, bonehead, you start with the premise that Biden can do nothing right and it follows that the Inflation Reduction Act didn't work; with no evidence to back that claim up. The Fed interest rate policy is the biggest factor in the reduction in inflation

Can't understate the importance of Biden not jawboning the Fed to be less aggressive with interest rate hikes. No question that Trump would have shown no such restraint. 'The Fed is being very unfair to me', is most likely how it would have gone.

https://www.americanprogressaction.org/article/a-year-of-impact-the-anniversary-of-the-inflation-reduction-act/

Lowering costs
With nearly half of Americans reporting concerns about living expenses, the Inflation Reduction Act took a critical step forward in reducing costs for everyday Americans. From reduced prescription drug prices to lower energy costs, hear from the Americans who have experienced savings thanks to the Inflation Reduction Act.

Exactly none of that would have happened under Trump.


From 6 months ago. No metric as grown worse for the U.S. since then. Biden's IRA did NOT extend to the other G7 countries.

https://www.americanprogress.org/article/7-reasons-the-u-s-economy-is-among-the-strongest-in-the-g7/

JUL 25, 2023
7 Reasons the U.S. Economy Is Among the Strongest in the G7

Cooling inflation, continued economic growth, and a strong labor market exemplify the sustained resilience of the U.S. economy, particularly compared with other advanced economies.

The United States has the lowest inflation rate in the G7
As the world emerged from the heights of the COVID-19 pandemic, most advanced economies experienced elevated inflation. U.S. inflation remains above the Federal Reserve’s 2 percent target but is down substantially from its 2022 highs, with annual inflation declining in each of the past 12 months.

Compared with advanced European economies, the United States has the lowest harmonized headline inflation rate—a comparable measure of inflation. (see Figure 1) In fact, compared with every other G7 economy, the United States has not just the lowest headline inflation but also the lowest core inflation—inflation that excludes volatile energy and food prices. Core inflation is the preferred measure of central banks.