The impact of the pandemic on the U.S. and global economy was catastrophic. Economic historian Adam Tooze characterized its impact as being “the swiftest and most comprehensive contraction of global economic activity ever.”
There are clearly other factors at work with regard to the economic problems confronting the U.S. and rest of the world, but it is safe to assume that the present economic conundrums would not exist without the pandemic. President Biden is being blamed for issues that are largely beyond his control and not of his making. Inflation is the primary focus of most Americans, who are concerned about rising prices for gasoline, consumer goods and utilities. FiveThirtyEight found that inflation has had a significant impact on Biden’s approval rating.
The discontent over inflation is accompanied by fear of recession as the Federal Reserve raises interest rates to respond to spiraling prices. The…
