No. of Recommendations: 5
If the democrats want to talk about how much rates have come down, that's nice, but a low rate merely determines what happens next to the price level already present in the economy. They've failed at that, mainly because there is no answer for it.
Well, there are answers for it. Mainly that price rises were a global phenomenon (not just the U.S.) due to the shocks of the pandemic, so didn't result from any specific aspect of U.S. fiscal or monetary policy - and that in the U.S. (more than other countries) wages have also increased, and by more than prices went up.
So if a good cost $10 four years ago and now costs $12.50, voters will remember paying $10. But that voter is also making (on average) 25% more in their wages than they did four years ago, also. They just won't connect them.
Democrats have tried to communicate those points, but they've pretty much failed to move the needle with a lot of voters.
