Posts tagged Jerome Powell
Biden takes shot at Trump on jobs in battleground Pennsylvania
September 5, 2023 // A Reuters/Ipsos poll last month showed that the economy, unemployment and jobs remained Americans' top concern. A full 60% of Americans, including one in three Democrats, said they disapproved of Biden's handling of inflation, according to the poll. The Fed's preferred inflation gauge has moved down to 3.3%, from its peak of 7% last summer. Although the decline was a "welcome development," Fed Chair Jerome Powell said late last month, inflation "remains too high" and interest rates may need to move higher. Republicans and some economists say Democratic policies helped spark the rise in prices, making Americans pay more for rent, groceries and gasoline under Biden's watch. Economists say inflation was also stoked by the lifting of COVID-era restrictions and revival of business activity that followed.