Inflation Crisis Dominates Upcoming Presidential Election Debate

In just six months, voters will have a big decision to make in a very important presidential election. The outcome of this election could be determined by the issue of inflation, which has become a big problem for families across the country. Inflation happens when prices for things go up and it has been a big deal for the past few years. This started in early 2021, and it got really high, over 9%, in 2022. The COVID-19 pandemic caused problems with the way things were being made, and that caused more inflation.

A special person at George Washington University says that the president would rather have low inflation and lots of people with jobs, but he can’t always get what he wants. The Federal Reserve wants inflation to stay around 2%, which is a level they like. The inflation rate is at 3.5%, which is more than the Federal Reserve wants. This number has been kind of up and down but it hasn’t been what the Federal Reserve wants.

To win the election, the person who is president right now, President Biden, has to show that he is making inflation get better. This is really important because when people decide to vote, the economy is a huge thing for them. The economy is how the country is doing with money and jobs. A poll in April showed that only 18% of the people who will vote think that inflation will get better by the end of the year. Also, 75% of them think it will be the same or worsen, and 70% think the U.S. economy is not going the right way.

Even though the economy is doing some good things, like making more stuff and not having many people without jobs, the higher prices have made it hard for people. The prices of things like electricity, gas, and food have increased significantly. This makes it harder for people to pay for the things they need.

A person who helps the Republican party says that people are still mad about how much more they have to pay for things now than just a couple of years ago. This bad feeling will go away over time, but six months is not very long. He says that the people who want to be president like Joe Biden can’t forget about inflation. He also thinks that the Democrats will want to talk about other things, like helping the environment and ensuring enough jobs.

Republicans will want to talk about how things cost a lot more now and other problems in the country. Younger people, like from 18 to 29 years old, care a lot about how much things cost and think it is a big problem. A special person said that the Republicans will discuss many problems like inflation and people coming into the country. People who help the Democrats said that they would say the economy is getting better, things like the environment and being safe are important, and the USA is the leader for other countries and helps friends.

Written by Staff Reports

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