9 months ago
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Joseph Zeballos-Roig/Semafor:
With inflation down, Democrats are starting to brag about the economy
White House officials and Democratic allies are growing more confident that “Bidenomics” is a winning pitch to voters as the rapid price increases of the past two years fade into the rearview mirror. They’re even starting to roll out some “I told you so’s,” with comments rebuking naysayers who predicted large spikes in unemployment were necessary to tame inflation.
“Despite repeated forecasts that recession is just around the corner, the U.S. recovery is solid, and inflation is down,” National Economic Council Director Lael Brainard said in a speech at the Economic Club of New York. “The economy is defying predictions that inflation would not fall absent significant job destruction.”
Even some prominent inflation hawks are starting to believe that the worst might be over. “I’m definitely more encouraged than I was a few months ago,” Marc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, told Semafor. “I’m more encouraged that we can land the plane without a recession.”
