Inflation rose 0.6 percent from December to January, bringing the annual rate to 7.5 percent, the highest level since February 1982. According to CNN, everything is excellent, and despite inflation, people are likely to have made a profit. In December, half of all households in the United States indicated that inflation was giving them problems. There are few signals that inflation is going to slow down anytime soon.
According to the New York Post, inflation costs the average American household an extra $276 each month in spending, with millennials, Latinos, and the middle class bearing the brunt of the burden. “Public dissatisfaction with America’s pandemic-wounded economy obscures the positive news,” CNN’s John Harwood asserted. “Even with inflation, the majority of the country has done well,” he remarked.
Moreover, actual salaries have fallen by roughly 2% in the last year because of the high inflation rate. Perhaps they’re not attempting to deceive people as much as they want to appease the Biden Administration. It was heard in December that the Biden Administration was meeting “behind the scenes” with journalists to “reshape coverage” of the economy “to its advantage.”
Furthermore, Joe Biden appears to be attempting to sway how the “free press” covers the economy. It is just another strategy employed by Barack Obama to increase his popularity ratings. Since Joe Biden has been trying to return the country to the Obama-era status quo, he’s now attempting to control the media in the same way.
Therefore, the White House is working with the media “behind the scenes” to adjust how they report the supply chain crises and other economic concerns that have harmed President Joe Biden’s favorable ratings. Biden’s low approval ratings and ineptness have tarnished not only his popularity but also the Democratic brand, jeopardizing his party’s chances in the next midterm elections.