Analysis: Biden finds inflation overshadows strong economy

By JOSH BOAK
Associated Press

President Joe Biden is paying a steep price for high inflation. It’s a problem that festered during his first year in office instead of fading away as he suggested it would. Last year’s giant coronavirus relief package drove what will probably be the fastest economic growth since 1984 and pulled the unemployment rate down at a quicker pace than expected. But inflation is running at a nearly 40-year high of 7%. The mix of a strong economy and high inflation has created a paradox: Most U.S. households feel confident about their own finances, yet they’re worried about the economy in ways that have been a drag on Biden.