Headline RoundupApril 12th, 2022

How Will Inflation Impact Politics Ahead of the 2022 Elections?

Summary from the AllSides News Team

How will record-high inflation affect the 2022 elections? What should be done to combat rising prices?

Consumer prices set yet another 40-year record for annual inflation in March, according to a Tuesday report. Rising prices were bolstered by a 22% monthly (70% year-over-year) increase in fuel oil prices driven by sanctions on Russian oil. Meanwhile, unemployment is approaching pre-pandemic levels, GDP is expected to grow 2.8% in 2022, and some have raised concerns of a potential upcoming recession

The news sparked several reactions from political figures. Sen. Joe Manchin (D-W.Va.), a key vote for Senate Democrats, said Tuesday that “the Federal Reserve and the Administration failed to act fast enough” and “continue to respond with half-measures and rhetorical failures.” Many have raised concerns that sustained high inflation would hurt Democrats in the 2022 midterm elections.

Voices from the left and right generally repeated previously-stated explanations for inflation. The right often blamed President Joe Biden’s 2021 American Rescue Plan and the Federal Reserve’s reluctance to raise interest rates; one headline called it “Democrats' Bidenflation disaster.” The left tended to point to global supply chain disruptions and the coronavirus pandemic, often highlighting that prices were rising in many countries, not just the U.S. 

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