Inflation drops to 3% in major boost for Biden and Bidenomics

Annual inflation slowed to 3% in June, good news for the Biden administration, which has been touting “Bidenomics” for the past several weeks.

The drop of a full percentage point in headline inflation reported by the Bureau of Labor Statistics on Wednesday is a positive development in light of the Federal Reserve’s efforts to lower price pressures by raising interest rates.

July 12, 2023 02:22 PM