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How big of a problem is inflation?
According to the most recent polls fromPew Research Center: Very big.
But how much influence do U.S. presidents actually have on inflation rates?
Inflation was 2.9% as of July, the lowest it has been since 2021.
For comparison, letssee what inflation has looked likeunder every president since Dwight D. Eisenhower.
Eisenhower aimed for economic growth without inflation and was conservative about spending programs.
His main goal was to maintain a balanced budget.
He also increasedgovernment spending programsaimed at improving social welfare.
Increased spending related to the Vietnam War put a strain on the federal budget.
While it worked in the short term, it led to sharper rises in inflation over thenext several years.
He started the Whip Inflation Now program in 1974, which focused on anti-inflationary initiatives forbusinesses and consumers.
Ultimately, his program didnt win the fight against inflation.
His presidency was marked by the highest average inflation rate compared to any other president on this list.
These policies became known as Reaganomics, and they were successful at combating high inflation.
From 1980 to 1988, inflation dropped from 13.5% to 4.1%.
George H.W.
Bush (1989-93)
Average Annual Inflation Rate: 4.3%
Inflation duringGeorge H.W.
Bushs term remained moderate.
Then, the Savings and Loan Crisis caused the economy to enter a recession that same year.
Barack Obama (2009-17)
Barack Obama took office in the middle of the Great Recession.
Prices continued to rise and outpaced wage growth, at only 2.0%, during his first term.
Despite the challenges of the pandemic, inflation remained low, on average, throughout Trumps presidency.
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