Biden's Old '0% Inflation' Comment Comes Back To Bite As McKinsey Says New Biggest Splurge For US Consumers Is Groceries [Yahoo! Finance]
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Source: Yahoo! Finance
It's an issue President Joe Biden has to grapple with as his reelection campaign gears up, especially given that 65% of Americans remember the economy as good under former President Donald Trump, according to the poll. In August 2022, Biden announced "zero inflation" at a time when the consumer price index (CPI) reported it was 8.5%. While he was referring to 0% month-over-month inflation at the time, it rubbed many the wrong way given the negative perception of the economy, with one Republican senator calling the claim "gaslighting." Don't Miss: Join the elite. Invest in Epic Games and own a piece of the $17 billion Fortnite empire This ‘Future of Gaming' startup disrupting a $272 billion industry is now letting anyone invest for a limited time While Biden has slightly backed off those claims in the face of still rising inflation, citing "progress" while acknowledging "prices are still too high," a report from the consulting firm McKinsey & Co. uncovered what Americans are
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