President Biden criticized news coverage of the U.S. economy as he faces growing backlash from voters over his handling of inflation. In brief remarks Saturday before boarding the presidential heli…
People are looking at inflation dropping, thinking that’s an immediate fix. They’re forgetting that inflation is a measure of velocity. The ground that prices gained isn’t being eaten back up unless inflation goes to an effective negative compared to income.
People are looking at inflation dropping, thinking that’s an immediate fix. They’re forgetting that inflation is a measure of velocity. The ground that prices gained isn’t being eaten back up unless inflation goes to an effective negative compared to income.