RAPIDLY RISING prices are as conspicuous as they are unpopular. Annual inflation of 6.8% has left American consumers even more anxious about the economy than they were during the pandemic-induced crisis in the spring of 2020. They are gloomy (see chart), even as many of them enjoy rising incomes, bargaining power over their employers—the result of a labour shortage—and soaring house prices. Their unease is a problem for President Joe Biden, whose economic management does not poll well. By one count, over two-thirds of voters disapprove of his record on inflation.

Listen to this story

Your browser does not support the <audio> element.

Enjoy more audio and podcasts on iOS or Android.

The White House is therefore now keen to fight the rise in prices. But Democrats are slipping into a bad habit that often afflicts politicians at such a moment: blaming greedy corporations and rigged markets instead of

Read More At Article Source | Article Attribution