On Wednesday, the country hit a sad milestone: Inflation under President Biden hit 20 percent. The dollar's value has plummeted under his watch. The Bureau of Labor Statistics also confirmed that the consumer price index is resurgent and growing faster than average wages. Combined with weak GDP growth, this data shows the U.S. economy is reentering stagflation.
Bidenflation Is Pushing Small Businesses to the Brink
The specter of stagflation has returned. On April 25th, The Bureau of Economic Analysis announced that GDP only grew by 1.6% in the first quarter of this year, well below expectations.
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