A shopkeeper works inside his retail store as the phase one reopening of New York City continues during the outbreak of the coronavirus disease (COVID-19) in the Brooklyn borough of New York City, New York, US June 9, 2020. (Reuters photo)
Almost 6 in 10 Americans say that policies adopted by the administration of President Joe Biden are to blame for the high inflation rate in the country.
According to a new Morning Consult-Politico poll, 59 percent of registered voters believe the Democratic presidents policies were either "very responsible" or "somewhat responsible" for the increasing inflation.
Twenty-eight percent also said that the administration was "not too responsible" or "not responsible at all," showed the survey, conducted from Friday through Monday.
In comparison, nearly 53 percent of those surveyed said Americans return to pre-pandemic spending behaviors caused the inflation.
While Republicans overwhelmingly (82%) blamed the inflation on Biden, most Democrats attributed the inflation to the return to pre-pandemic behaviors.
Meanwhile, Biden and his top administration officials have asserted the inflation is a temporary byproduct of the spike in spending and demand as the economy bounces back from the Covid crisis.
On Wednesday, Federal Reserve Chairman Jerome Powell said while the US has moved toward the "substantial further progress" the Fed is interested to see, there was still "some ground to cover" before the central bank would begin easing off stimulus.
Inflation could be more aggressive and last longer than central bank expectations, Powell told reporters following his two-day meeting with top Fed officials.
"As the reopening continues, bottlenecks, hiring difficulties, and other constraints could continue to limit how quickly supply can adjust, raising the possibility that inflation could turn out to be higher and more persistent than we expect," he said.
"Indicators of long-term inflation expectations appear broadly consistent with our longer-run inflation goal of 2%," he continued. "If we saw signs that the path of inflation or longer-term inflation expectations were moving materially and persistently beyond levels consistent with our goal, we would be prepared to adjust the stance of policy."
Another poll from the National Republican Congressional Committee (NRCC) last week showed 70 percent of Americans across several battleground districts were either "extremely or very concerned" about increasing prices and costs of living.
Nearly 60 percent also said they disapprove of Bidens handling of rising costs.
LINK: https://www.ansarpress.com/english/23253
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