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Did Democrats Make Inflation Worse?

The Daily

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Inflation Crisis and Political Ramifications

This chapter examines the current inflation crisis, noting a significant 7% price increase, the highest in four decades, and discusses the Federal Reserve's strategy to raise interest rates to tackle the issue. It also analyzes President Biden's response to inflation concerns amid the midterm election atmosphere and explores the economic implications of the American Rescue Plan, including direct cash payments and unemployment benefits. Additionally, the chapter contrasts historical economic theories regarding stimulus spending and inflation, highlighting differing political perspectives on government financial interventions.

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