A Wednesday poll reveals the majority of registered voters hold President Joe Biden responsible for the inflation surge, according to a Morning Consult poll.
Fifty-nine percent of “registered voters hold Biden’s economic policies responsible for rise in inflation in the United States, compared with 53% who point to Americans’ return to pre-pandemic behaviors,” the poll found.
Thirty-nine percent of voters also said Biden’s policies are “very responsible” for the inflation surge, which includes 82 percent of Republicans and 41 percent of Democrats.
Additionally, the “share of U.S. adults who expect prices to increase in the travel and vacation space rose to 54 percent in June from 36 percent in January,” according to Morning Consult data.
On July 16, Biden denied inflation was a problem, saying that “there’s nobody suggesting there’s unchecked inflation is on the way [sic]. No serious economist.”
But Larry Summers, former Treasury Secretary under Bill Clinton, director of the National Economic Council under former President Barack Obama, warned the Biden administration’s policies risked inflation and overheating several months ago.
“Labor market tightness, behavior of housing markets & asset prices all rising in a more concerning way than I worried @ a few months ago. This raises my degree of concern @ overheating scenario. There are huge uncertainties but the focus of concern now should be on overheating,” Summers tweeted.
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