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Soaring egg prices. Gas for more than $5 per gallon. Used cars that cost 30 percent more than they had the year before.
For most of President Biden’s term, the fastest inflation in four decades provided Republicans with no shortage of ripe targets for political attacks over his economic stewardship, emerging as the central talking point of their 2022 midterm campaigns and the early 2024-presidential election campaigns.
But now that message may no longer be as powerful. Inflation has eased to 3 percent on an annual basis, down from 9 percent last year, and workers’ earnings are beginning to outpace rising costs. Economists’ fears of an imminent recession have abated as well, and Biden administration officials are eager to tout the billions of dollars in private investment unleashed from legislation on semiconductors and clean energy that they pushed through Congress.
The public has been sour on…
