WaPo reports Americans are ‘finally feeling better’ about having to deal with inflation

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The Washington Post published a news article by economics journalist Abha Bhattarai who said Americans were getting used to inflation and “learning to manage it”. This goes against various indicators, including a Gallup poll which found that 56% of Americans said inflation was causing difficulty.

“After months of sluggishness, Americans are finally starting to feel better about the economy. and more resigned to inflation,” Bhattarai wrote.

“Americans are making small changes — buying meat in bulk, for example, or shifting more of their shopping to discount chains — suggesting that many families are learning to cope with higher prices. “, she continued.

VISA, MASTERCARD, AMEX TO SEPARATELY CATEGORIZE GUN STORE SALES

U.S. President Joe Biden speaks at the Eisenhower Executive Office Building in Washington, DC, U.S., Thursday, July 28, 2022. The drumbeat of recession intensified after the U.S. economy s contracted for a second straight quarter, as decades-high inflation sapped consumer spending and interest rate hikes by the Federal Reserve hampered businesses and housing.
(Photographer: Oliver Contreras/Bloomberg via Getty Images)

Following similar talking points to the White House, Bhattarai pointed to gas falling from an all-time low of $5, saying “the 25% drop in costs has been substantial for many Americans.”

“Headline inflation, meanwhile, eased slightly – prices were flat in July, although still up 8.5% from a year ago – due to aggressive price hikes. Federal Reserve interest rate,” she wrote.

The article details the account of Nils Haaland, an Omaha man who said that “soaring fuel and food prices this summer forced him and his wife to stop dining out, postpone summer trips and buy less meat”.

“While prices are still relatively high, he says he feels less worried that inflation will continue to spin out of control,” The Post reported.

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U.S. President Joe Biden meets with CEOs on economic conditions at the Eisenhower Executive Office Building in Washington, DC, U.S. Thursday, July 28, 2022. The pace of recession intensified after the contraction of the U.S. economy for a second consecutive quarter, as inflation, high for decades, undermined consumer spending and interest rate hikes from the Federal Reserve hampered businesses and housing .

U.S. President Joe Biden meets with CEOs on economic conditions at the Eisenhower Executive Office Building in Washington, DC, U.S. Thursday, July 28, 2022. The pace of recession intensified after the contraction of the U.S. economy for a second consecutive quarter, as inflation, high for decades, undermined consumer spending and interest rate hikes from the Federal Reserve hampered businesses and housing .
(Photographer: Oliver Contreras/Bloomberg via Getty Images)

The article also details the story of Jack Foote, a Californian who planned to retire in June but stayed at his job for fear the economy would weaken further.

“While inflation is still a top priority for American voters heading into the midterm elections, the share of Americans saying it is their biggest concern has declined,” Bhattarai reported.

“The Fed’s latest ‘beige book’ report, released this week, found that many households have shifted to cheaper goods and are shifting spending more toward essentials like food,” Bhattarai wrote.

“That’s certainly been the case at Walmart, where executives say they’re seeing more middle- and upper-income customers than usual,” she said.

US President Joe Biden (C) meets with Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen, in the Oval Office of the White House May 31, 2022 in Washington, DC.  The three met to discuss the Biden administration's plan to tackle record high inflation.

US President Joe Biden (C) meets with Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen, in the Oval Office of the White House May 31, 2022 in Washington, DC. The three met to discuss the Biden administration’s plan to tackle record high inflation.
(Photo by Kevin Dietsch/Getty Images)

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This is not the first mainstream media story aimed at lowering the American public’s expectations of their standard of living due to inflation. Last year, Bloomberg published an article titled “For Americans Shocked by Inflation, Argentines Have Advice” which detailed ways Americans should change their behavior and lower their expectations in order to cope with the crisis. inflation.

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