Inflation Perceptions in Election Year

This chapter examines the multifaceted perceptions of inflation in the U.S. as the elections approach, focusing on the central bank's interest rate decisions amidst inflationary challenges. It contrasts historical attitudes towards inflation with contemporary views, highlighting its impact on various socioeconomic groups and the communication difficulties faced by the Biden administration. The discussion emphasizes the disconnect between economists' perspectives and the public's fear of inflation, exploring its psychological burdens and implications for political narratives.