Americans Say Inflation Should Be President Joe Biden’s Top Priority, Poll Finds

According to a CPI report, inflation has reached a 40-year high, with prices jumping up 7.5 percent in the last year. USA Today reports that supply shortages, federal aid packages and low-interest rates have caused inflation to spike in the past 12 months. Real wages have fallen 1.7 percent, according to the Bureau of Labor Statistics.

Biden has previously said that while the reports are “elevated,” forecasters project that inflation will ease by the end of 2022.

“We will continue to fight for costs in areas that have held back families and working people for decades, from prescription drugs to childcare and eldercare to their energy costs,” Biden said earlier this month.

According to CNBC, the White House can make some limited moves to try to curb price increases, such as tapping petroleum reserves, backing U.S. supply chains, and encouraging more people to return to the workforce.

The Federal Reserve can also adjust interest rates to maximize employment and help stabilize rising prices.

“I expect inflation throughout much of the year– 12-month changes– to remain above 2 percent,” she said at the time. “But if we’re successful in controlling the pandemic, I expect inflation to diminish over the course of the year and hopefully revert to normal levels by the end of the year around 2 percent,” said Treasury Secretary Janet Yellen.

The new NPR/PBS NewsHour/Marist poll also found that most Americans also believe that Biden’s first year in office has been a “failure,” saying that he has not fulfilled his campaign promises and he is dividing the nation even more.

Only eight percent of respondents said Biden’s first year was a major success, while 36 percent said his first year in office was a “major failure.”

The poll also found that:

• 11 percent believe coronavirus should be the top priority for Biden’s administration.
• 11 percent believe voting laws should be the top priority.
• Other priorities included foreign policy, violent crime, climate change, prescription drug prices, an investigation into the riot at Capitol Hill in January 2020 and abortion.
• 29 percent said their family finances have gotten worse in the last year, 23 percent said they have gotten better, and 48 percent said their finances have stayed about the same.

Related:

45 Percent of Americans Say They Are Suffering Hardship due to Inflation

President Joe Biden’s Approval Rating Drops Even Further

Photo courtesy: Pixabay

Amanda Casanova is a writer living in Dallas, Texas. She has covered news for ChristianHeadlines.com since 2014. She has also contributed to The Houston Chronicle, U.S. News and World Report and IBelieve.com. She blogs at The Migraine Runner.