BAKERSFIELD, Calif. (KGET) — Americans continue to grapple with skyrocketing prices for food, fuel, and household goods. Record high inflation is squeezing consumers and prompting the Fed to raise a key interest rate to try to stem price hikes.
The move is intended to cool off soaring prices, but it’s also a mixed bag for consumers who will shell out more to pay off credit cards, take out mortgages, auto loans and more.
President Biden is taking a hit in the polls for his performance on the economy. The administration is on track to cut deficit spending, which Biden says will help combat inflation.
We wanted to know: Is President Biden doing enough to combat inflation?
Out of 588 respondents, more than 70% do not believe President Biden is doing enough to combat inflation.