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Is President Joe Biden on the wrong side of a reckless inflation bet?

Is President Joe Biden on the wrong side of a reckless inflation bet? Inflation erodes disposable income and especially punishes low-income families. President Joe Biden speaks during. News conference with German Chancellor Angela Merkel in the East Room of the White House in Washington, Thursday, July 15, 2021. (AP Photo/Susan Walsh)(Susan Walsh) Let it be said: Inflation is a real risk. The latest evidence arrived last week when the federal government reported that the consumer price index rose 5.4% in June from the same month last year, the biggest jump since 2008. Any shopper or employer can attest to the real world impacts. Food is more expensive. Cars are pricier. Labor shortages are rampant. The supply chain is backed up. And, after a year on pandemic lockdown, Americans who were able to work and save money through the pandemic are spending like there is no tomorrow.

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