Inflation Overshadows US Economic Resilience, Hurting Biden
- Strong data hasn’t boosted the president’s reelection bid
- Hot growth, high inflation likely to keep interest rates high
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The US economy is resilient, and it’s bad news for Joe Biden.
Given time to digest Thursday’s GDP report, most economists looked past the weak headline number and declared the underlying momentum of the US economy remained strong. But growth and jobs — which have been surprisingly sturdy for more than a year — have generated little tangible benefit to Biden’s hopes for reelection.