Inflation continues to rise.
A new Primerica poll shows that three out of four middle-class households report falling behind as the cost of living continues its increase. The finding represents an eight-point increase since March. Only 16 percent of those surveyed think they will be better off financially in a year.
The group reports that 41% rated inflation as their top concern. The poll also found that 77% of Americans expect a recession, and only 14% expect the economy to get better this year. Economic difficulties have forced many Americans to cut back on expenses.
Jared Bernstein, a member of the White House Council of Economic Advisers, admitted in a recent interview that inflation is “unacceptably high,” while also stressing that President Biden will not back down on climate change spending initiatives and does not see the nation headed toward a recession.
As the Lord Leads, Pray with Us…
- For the president and his administration to seek God’s guidance on addressing the national economy.
- For discernment for the White House Council of Economic Advisors as they provide recommendations to the president.
- For Federal Reserve Chair Powell and Treasury Secretary Yellen to move forward with wisdom regarding the country’s fiscal position.
Sources: Washington Examiner, Fox Business
