White House Has Serious Inflation PR Problem, Survey Shows
Consumers are now very concerned about inflation.
That might seem like a flippant or otherwise superfluous statement after this week, but sentiment is apparently deteriorating at a somewhat alarming rate.
The initial read on the University of Michigan gauge for November was 66.8 (figure below), a mile below the 72.5 consensus expected.
Do note that the headline index was already sitting close to a decade nadir after plunging in August as the Delta wave washed over the country. Now, the inde
H-Man, in observing a rather bleak environment, there seems to be ray of hope that the labor force (people who really work) will be the beneficiary of wage increases. They seem to have the leverage for the time being and I hope they use it to the max.
Soon to be joined by a Covid PR problem. Delta surge #2 will be under way soon (1-3 months), see UK and Europe as precursors and see US case rates ceasing to decline.
Administration still gets good marks for its Covid handling, if it loses that then it’s game over.
FDA needs to rapidly approve boosters for everyone and EUA both Pfizer and Merck oral antivirals, and government needs to have a national program to get a 5 day antiviral course to every diagnosed Covid patient, up and running by January. If FDA staff has lapsed back into its bureaucratic sluggishness, as it seems, White House should bring the cattle prods; same with CDC.