monetary policy

Donald Trump’s economic mismanagement, particularly through trade wars, tax cuts for the wealthy, and a catastrophic COVID-19 response, played a major role in driving inflation—an issue that has been wrongly blamed solely on President Joe Biden. As Federal Reserve Chair Jerome Powell noted in December 2020, monetary policy operates with “long and variable lags,” meaning that the effects of Trump’s policies, including aggressive monetary interventions to counter the pandemic, laid the groundwork for inflation that manifested under Biden’s term. Republican propaganda has conveniently shifted blame onto Biden while ignoring the delayed consequences of Trump’s decisions.

However, the Biden-Harris administration’s Inflation Reduction Act helped stabilize inflation, particularly by supporting low-income workers and ensuring wage growth kept pace with rising costs. Today, with the Federal Reserve lowering interest rates, it’s clear that Democrats have won the battle on inflation. The question remains: Why would anyone want to return to the policies of the person who caused the problem in the first place? Trump’s reckless economic strategy favored the rich, disrupted supply chains, and burdened ordinary Americans, while Biden’s leadership has delivered relief and recovery for the people that needed it the most. F right-wing propaganda.