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Snapshot 3:Wed, Apr 10, 2024 5:42:51 PM GMT last edited by JoeSpinosa

US Stock Market Falls as Inflation Rises, Analysts Warn of More Interest Rate Hikes

US Stock Market Falls as Inflation Rises, Analysts Warn of More Interest Rate Hikes

Image credit: Michael M. Santiago/Staff/Getty Images News via Getty Images

The Spin

While the president can't control the whole economy, his policies on cars have been one of the leading causes of this inflationary crisis. Car insurance and repairs, which are up 22% and 12%, respectively, are due to Biden's push for electric vehicles. As gas prices soar and the White House pushes its electric vehicle agenda, Americans have been forced by the federal government to pay exorbitant amounts of money to fix these fancy new cars.

America's economic debate has unfortunately been pushed into a partisan one based on perception rather than reality. Despite inflation cascading down from its post-COVID peak and both employment and wages increasing, Republican politicians have seized control of the American psyche to stain the Biden presidency ahead of his re-election bid. Today's headlines should be about Democrats containing inflation while also forgiving student loans and expanding healthcare.

Metaculus Prediction

There's a 50% chance that annual US core CPI inflation will be above 3% in December 2024, according to the Metaculus prediction community.


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© 2025 Improve the News Foundation. All rights reserved.Version 6.18.0

© 2025 Improve the News Foundation.

All rights reserved.

Version 6.18.0