Unemployment is down, but inflation is up – and Americans are not happy about it.
There are many criteria that define a successful first year in office, and if you add a pandemic, there is even more to navigate. Joe Biden, who began his tenure as U.S. president in January 2021, and his team say it was a success.
The US economy has recovered faster than most others from the pandemic. Based on some of the top 10 market indicators, the economy has improved more during Biden’s first year than any of its predecessors in the last 50 years. The stock market is booming, unemployment is down and wages are up. But inflation recorded the biggest 12-month gain in 40 years.
Elsewhere, we look at why Turkish President Recep Tayyip Erdogan has cut interest rates despite spiraling inflation.