Sharp and sustained economic criticism from Biden's ostensible allies established a narrative of failure that has proved alarmingly resistant to reality.
Americans, in our typical way, have a system of economic reporting that allows those in power to sort of hide that elegant metric in a combination of other statistics.
Here, you’d have to compare the rate of change of the Consumer Price Index against wage growth. And also find some way to factor in the cost of gasoline (which has more volatile price changes and as such isn’t included in CPI figures).
Americans, in our typical way, have a system of economic reporting that allows those in power to sort of hide that elegant metric in a combination of other statistics.
Here, you’d have to compare the rate of change of the Consumer Price Index against wage growth. And also find some way to factor in the cost of gasoline (which has more volatile price changes and as such isn’t included in CPI figures).