"The evidence linking specific Biden-era policies to the surge in inflation is just really weak'

[CousinIT]

"Inflation is global. There's been an acceleration of core inflation across every advanced economy, even the ones that did very, very little fiscal relief," he said. "And so I think the evidence linking specific Biden-era policies to the surge in inflation is just really, really weak."

https://www.npr.org/2022/06/29/1108388304/inflation-biden-fed-interest-ukraine-stimulus?mc_cid=20f143cc03&mc_eid=bc6bf9385c

. . .

Gas prices
In a recent speech that addressed record gas prices, President Joe Biden said that Exxon had, "Made more money than God this year."

Bivens said profit margins for most of the major oil companies showed this wasn't such a far-fetched idea.

"Especially for the first year of the inflationary shock, basically from very early 2021 to the end of 2021, if you track profit margins, those profit margins got much fatter," he said. "And they actually reached historically high levels by the end of 2021. So the rise of profits definitely is a big part of why prices jumped in 2021."

. . .

Pandemic relief
The pandemic relief payments put a lot more money into the checking accounts of many Americans and helped drive consumer spending. Bivens said when it came to inflation, however, that wasn't the whole story.

"Inflation is global. There's been an acceleration of core inflation across every advanced economy, even the ones that did very, very little fiscal relief," he said. "And so I think the evidence linking specific Biden-era policies to the surge in inflation is just really, really weak."

Just a bit of ammo for the GQP idiots you come across. Not that facts or data matter to them in their idiotbubble.