Is inflation really bad for most people?

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22. There's a lot of good news in the economy especially for the working poor

Unemployment has plummeted and wages at the low end are actually going up for a change. Service workers get see people again as vaccination rates improve, and part-timers can get more hours.

So yeah, the working poor are doing better and the good news for a change outweighs the inflation problem. But this is not likely to last if inflation continues for a long time. Wages historically lag inflation; the last year has been an anomaly for a number of reasons.

Foxnews dwells on inflation partly as an obvious political attack but more legitimately because their audience is heavily weighted towards seniors who are, as noted previously, more adversely affected by inflation (and generally aren't benefitting from low unemployment and wage increases).


I certainly agree that inflation should be viewed in the context of the economy as a whole. Biden should be getting tremendous credit for getting this economy booming at 6%-ish gdp, which is huge. And some inflation with huge growth is unsurprising and overall, it's better to have the huge growth despite the inflation that often comes with it.