There's been more bad news on the inflation front this week naturally, Biden is looking for someone or something else to blame - other than his own economic policies.
As soon as Biden conjured up his reckless $1.9 trillion "Rescue" plan, economists left and right said that pumping that much deficit-financed spending into a fast-growing economy risked sparking an inflationary spiral, to which team Biden said "Nonsense."
This week, Federal Reserve Board Chairman Jerome Powell, who'd previously dismissed inflation fears, said price increases have "Been larger and longer-lasting than anticipated," and that this will "Likely remain so in coming months before moderating." The Fed now predicts that inflation this year will be 4.2%, up from its June forecast of 3.4%. Also this week, the London-based research firm Capital Economics said that the U.S. may be heading into an "Era of higher inflation."
Biden's top economic adviser, Jared Bernstein, said he "Believes we might see elevated inflation into the middle of next year," according to Fox Business.
Bernstein had been the most vocal in denying that Biden's $1.9 trillion stimulus would trigger inflation.
Polls show them overwhelmingly blaming Biden, with one finding that 79% say Biden's economic policies are fueling inflation.
The question is, how long will it take before Biden starts dusting off those old "Whip Inflation Now" buttons?
https://issuesinsights.com/2021/10/01/as-inflation-fears-rise-biden-starts-looking-for-scapegoats/
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