Consumer prices rose at annual rate of 2.9% in August, as weekly jobless claims jump

[Metric Mouse]

Nope. The point is that causes of inflation under Biden and Trump are completely different. Trump's inflation is entirely self-inflicted, without purpose or benefit. Or logic.

So very high inflation can be beneficial?

Explain?

For sure inflation can be caused by different things, but when has it ever been good for a president? Even just two examples?

As we can admit who had control over their inflation numbers and who didn't.

Absolutely. One had control, and lower inflation, and one said they couldn't control inflation, threw up their hand and took a train to their private beach with their dog, and had much higher inflation.

Neither were popular, and neither will be elected again. The next president will do better.

 

[ncguy]

That higher inflation is bad for the president?

No cap. Biden dropped out over this, and so will Trump. Neither will ever be elected again due, in part, to their inflation numbers.

But we can still admit who had higher inflation numbers, even if both were terrible.

no, the point that trump inflation is at least partially self inflicted via his policies, contrary to his promises.
comparing biden and trump inflation is stupid because the circumstances are totally different.

 

[LostInSeattle]

So very high inflation can be beneficial?

What?

Explain?

For sure inflation can be caused by different things, but when has it ever been good for a president? Even just two examples?

Never said it has been. Are you confusing my posts with someone else's?

Absolutely. One had control, and lower inflation, and one said they couldn't control inflation, threw up their hand and took a train to their private beach with their dog, and had much higher inflation.

You seem to be trying to say something here but can't actually say it specifically. Not going to guess what that might be. Try harder.

Neither were popular, and neither will be elected again. The next president will do better.

There is control over the causes of inflation on the one hand, and responses to inflation on the other.

Inflation under Biden was the result of massive supply chain disruptions world-wide due to Covid. He inherited that. Trump's inflation is due ENTIRELY to his own policies, including tariffs that directly raise prices and massive, chaotic deportations which increase supply chain disruption.

Biden promoted anti-inflation policies to reduce costs for American consumers, including policies to offset some health insurance costs (medicare prescription benefits) and tax credits for ACA premium coverage), and policies to reduce supply chain issues such as increasing funding for port capacities and putting in place systems to proactively address future disruptions, such as the FLOW initiative. Biden also let the Fed continue to manage interest rates independently. And inflation came down more less or steadily, towards the low inflation we had for years under Obama.

Trump has taken asinine steps that both create inflation and contradict each other. Tariffs raise consumer prices, pure and simple. They constitute a highly regressive tax. Allegedly, their purpose is to spur onshoring of manufacturing, but he doesn't understand that a nation's current account and capital account must balance - something everyone learns in Intro to Macro Econ. He wants us to run a trade surplus with the world and also for the world come and invest in us. But then he treats firms that have done just that - Hyundai for example - like shit. Trump is also ****ing with Fed independence, which can have no good consequences.