The Washington PostDemocracy Dies in Darkness

Opinion Who’s responsible for cooling inflation? Credit Biden, if not Bidenomics.

Columnist|
July 14, 2023 at 8:00 a.m. EDT
Jerome H. Powell, chairman of the U.S. Federal Reserve, during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Thursday, June 22, 2023. Photographer: Nathan Howard/Bloomberg (Nathan Howard/Bloomberg News)
5 min

The United States has had a run of good economic numbers lately, showing cooling inflation and ultralow unemployment. Some forecasters have ratcheted down their recession odds.

Many on the left want credit for these conditions. Curiously, though, they seem to ascribe such cheerful results mostly to things the government didn’t do while ignoring the things it did.