President Joe Biden and his team schooled us on inflation with this week’s student loan debt forgiveness announcement, but not in quite the way they think.
Inflation is showing signs of tapering off, and Federal Reserve Chairman Jerome Powell has vowed to do what it takes to continue squeezing it out of the economy. “Last month incomes were up, and overall prices were down — that’s according to an important measure of inflation, which showed prices actually came down nationwide last month,” Biden said in a celebratory statement issued by the White House.
But the Biden administration has repeatedly demonstrated that it has learned nothing from its brush with inflation running at a 41-year high.
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