• Rapidcreek@lemmy.world
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    11 months ago

    Pandemic-disrupted supply chains are pretty much righted. Inflation is already back near normal levels. Labor shortages have eased. The Federal Reserve is poised to cut interest rates next year.

    We’ll still get a thousand stories about a looming recession.

    • aberrate_junior_beatnik@lemmy.world
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      11 months ago

      Inflation is back near normal, but prices are not, and wages have not shifted to match those prices (partially due to the government fighting “wage inflation”). People are still worse off than they used to be. I don’t think this is Biden’s fault, but here we are anyway.

      • TechyDad@lemmy.world
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        11 months ago

        Biden has called this out. A lot of companies are still raising prices or aren’t letting prices fall. They’re still saying “oh, this is inflation causing this” while their costs fall and their profits rise.

        Biden can’t stop them singlehandedly. (He’s a President, not a Supreme Dictator.) But he can call them out on it and use what powers he has to bear down on them somewhat if they don’t stop.

        It might not get all of them to stop (some might risk fines because the profits would be greater), but hopefully it will direct the anger towards the actual culprits - big companies taking advantage of past inflation to raise prices.

        • go_go_gadget@lemmy.world
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          11 months ago

          Biden can’t stop them singlehandedly.

          No but since he couldn’t stop them he decided the working class would pay the price and had the Federal Reserve fuck over the American people.

          • Tinidril@midwest.social
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            11 months ago

            The Federal Reserve is independent of the President. They technically answer to Congress, but in reality it’s to the big banks.

    • chakan2@lemmy.world
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      11 months ago

      No one has been talking about a recession lately. The stories have all been shit is too expensive for the majority of Americans.

      And…well…they’re true.