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During his administration, the country experienced steady GDP growth, low unemployment and a roaring stock market.
Those were the strong points.
But it was also a time of great financial stress for middle-class families because of highinflation.
Soaring inflation was one of the biggest changes that middle-class families faced under Biden.
Heres a look at three of them.
Next, learnhow stock market performance compared between President Donald Trumps first term and Bidens term.
But by then, the negative impact was already felt.
That compares to a cumulative rate below 8% during Trumps first term.
How much of this was Bidens fault is up for debate.
But theres no question that middle-class families and everyone else felt a lot of financial pain.
Wages
Another change to middle-class families under Biden had to do with earnings.
But things did improve later in Bidens term, as the inflation rate rapidly declined.
Wages substantially outpaced inflation in 2023, according to theCenter for Economic and Policy Research.
Home Prices
The pandemic also had a major impact on home prices during Bidens term.
Prices continued to rise even during the final days of Bidens term.
This dynamic had a dual effect on middle-class families.
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