{"id":106330,"date":"2021-10-26T16:14:53","date_gmt":"2021-10-26T20:14:53","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=106330"},"modified":"2021-10-26T17:21:28","modified_gmt":"2021-10-26T21:21:28","slug":"nyt-rising-prices-once-seen-as-temporary-threaten-bidens-agenda","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=106330","title":{"rendered":"(NYT) Rising Prices, Once Seen as Temporary, Threaten Biden\u2019s Agenda"},"content":{"rendered":"

At least once a week, a team of President Biden\u2019s top advisers meet on Zoom to address the nation\u2019s supply chain crisis<\/a>. They discuss ways to relieve backlogs at America\u2019s ports, ramp up semiconductor production for struggling automakers and swell the ranks of truck drivers.<\/p>\n

The conversations are aimed at one goal: taming accelerating price increases that are hurting the economic recovery, unsettling American consumers and denting Mr. Biden\u2019s popularity.<\/p>\n

An inflation surge<\/a> is presenting a fresh challenge for Mr. Biden<\/a>, who for months insisted that rising prices were a temporary hangover from the pandemic recession and would quickly recede. Instead, the president and his aides are now bracing for high inflation to persist into next year, with Americans continuing to see faster \u2014 and sustained \u2014 increases in prices for food, gasoline and other consumer goods than at any point this century<\/a>.<\/p>\n

That reality has complicated Mr. Biden\u2019s push for sweeping legislation<\/a> to boost workers, expand access to education and fight poverty and climate change. And it is dragging on the president\u2019s approval ratings, which could threaten<\/a> Democrats\u2019 already tenuous hold on Congress in the 2022 midterm elections.<\/p>\n

Read it all<\/a>.<\/p>\n

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Obama WH economist \u2066@jasonfurman<\/a>\u2069: \u201cThe original sin was an oversized American Rescue Plan. It contributed to both higher output but also higher prices.\u201d https:\/\/t.co\/zO8SKQjuCW<\/a><\/p>\n

— Josh Kraushaar (@HotlineJosh) October 26, 2021<\/a><\/p><\/blockquote>\n