Jeff Mordock, Washington Times
The numbers behind consumers’ worries are stark. The U.S. economy grew just 1.5% in the second quarter, a marked slowdown from the 2.1% pace in the first quarter. Inflation is still running at 3.4% year over year in July, up from 2.7% during the same period last year, according to the Bureau of Labor Statistics. July’s reading did fall from 3.5% in June, continuing a recent month-over-month decline. It is far lower than the 9.1% inflation under President Biden, but high enough to hurt Republicans’ prospects in the midterm elections.
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