(PresidentialInsider.com)- President Joe Biden can claim as much as he likes that his economic plan is working, but the proof is in the pudding…and investors are growing increasingly concerned about the ongoing problem of inflation.
A survey by Gallop released on Tuesday showed how the 12-month outlook for American investors on inflation has grown worse in the first and second quarters of this year. The Gallup Investor Optimism Index shows how those who make a living by making predictions on how the economy will fare, and how businesses will perform in the near and long-term, are seriously concerned about the damage being done to the economy under the Biden administration.
The report shows that the net optimism score for inflation fell to -43 in the second quarter of this year. That’s even worse than the -28 rating from the first quarter.
Concerns are growing as prices are increasing. Consumer prices increased by 0.9% in June this year, to 5.4%. The data was also released on Tuesday by the Labor Department. It marks the biggest increase in prices since August 2008, during the last big economic crash.
All President Biden had to do to avoid this was do nothing at all and leave President Trump’s policies in place…what is he thinking?
Gallup noted how investors are generally more pessimistic about inflation, and there were some concerns even before the pandemic, but the numbers are dropping significantly enough for it to demonstrate a real and genuine concern about the future of the country’s job market and economy overall.
Interestingly, some 16% of investors who responded to Gallup said that they have changed their investments over the last month, while 84% have not. For some, that’s a sign that the economy can’t be that bad, but for others, it’s an indication that no investment is truly safe in this environment.
The question now is…will President Biden do anything to rectify this? Or just keep pretending it isn’t happening?