Inflation rates skyrocketed under the Biden-Harris administration, reaching 7 percent in 2021, 6.5 percent in 2022, and 3.4 percent in 2023.
President Joe Biden on Wednesday snapped at a reporter who asked about the state of the U.S. economy, insisting that his economic policies, known as “Bidenomics,” are going well.
“Yes, yes, yes. I told you we’re going to have a soft landing, we’re going to have a soft landing—my policies are working. Start writing that way, okay?” Biden said at a press conference when asked if the United States “has beaten inflation.”
A Bureau of Labor Statistics report Wednesday morning showed that the annual inflation rate in July slowed to 2.9 percent, its lowest level in three years.