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The Memo: Rising costs a growing threat for Biden

The Memo: Rising costs a growing threat for Biden 1

 

 
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The Memo: Rising costs a growing threat for Biden
President Biden is suffering badly from a problem over which he has little control — inflation.

Inflation reached its highest level in more than 30 years in October. And as it has risen, Biden’s approval rating has fallen precipitously.

Biden renominated Jerome Powell as the chairman of the Federal Reserve on Monday. Making the announcement, the president acknowledged the problems caused by rising prices even as he boasted of the overall strength of the economy.

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