The Federal Reserve’s December Survey of Consumer Expectations showed Americans expect inflation to be up 6 percent one year from now. This is a record high for this metric – for the second month in a row – since 2013 when the survey was first recorded.
The American people and small businesses are more worried about Bidenflation than ever. Businesses are struggling to get workers and costs are soaring.
- In a recent New York Times survey, the overwhelming majority of workers reported their paychecks can’t keep up with Bidenflation.
- Since May, the average family has lost about $377 a month, or three years of real wage growth, under President Biden.
- Due to Bidenflation, American families spent $3,500 more in 2021 to achieve the same level of consumption of goods and services as in previous years (2019 or 2020).
- In October, analysis from the Federal Reserve Bank of San Francisco confirmed that the Biden Administration’s $1.9 trillion emergency spending in early 2021 increased Bidenflation.