US Consumers Feel the Pinch as Inflation Concerns Linger

Despite a slowdown in inflation, US consumers continue to struggle with high prices, spotlighting inflation as a key political challenge ahead of the upcoming elections. It’s proving to be a major hurdle for the Federal Reserve’s goal of achieving a gentle economic descent. In terms of voter priorities, inflation trails only immigration and the broader economic landscape, but it leads issues like foreign policy, climate change, taxes, healthcare, and crime, as found in a recent Wall Street Journal poll. This sentiment is echoed in President Joe Biden’s approval ratings on inflation management, with a striking 60% of voters expressing disapproval in a late February survey of over 1,700 registered voters.