From: counting the costs
Unemployment has fallen, but inflation has risen – and Americans are not happy about it.
There are many metrics that define a successful first year in office, and when you add in a pandemic, there’s even more to navigate. Joe Biden, who began his term as US President in January 2021, and his team say it has been a success.
The US economy recovered from the pandemic faster than most. Based on some of the top 10 market indicators, the economy improved more in Biden’s first year than any of its predecessors in the last 50 years. The stock market is booming, unemployment has fallen and wages are rising. But inflation posts its biggest 12-month gain in 40 years.
Elsewhere, we look at why Turkish President Recep Tayyip Erdogan has cut interest rates despite rising inflation.