economy

“Inflation Soared in June, Pinching Consumers and Challenging Policymakers,” read a New York Times headline about the June 2022 inflation report.The report revealed an annual inflation rate of 9.1 percent, the highest level since the intense period of economic crisis in the 1970s and early 1980s. One of the policymakers faced with the enormous challenge of dealing with the inflation problem was President Biden. Biden’s approval rating on the economy hit its lowest level in June 2022. In a poll conducted by the Associated Press and NORC that month, only 28 percent of respondents approved of Biden’s handling of the economy while 69 percent disapproved.