Historic Perspective on Inflation

There was high inflation in the 1980s, which carried over from the late 1970s. It peaked in March 1980 (at 14.8%) and was decreasing by the time Reagan took office. From the peak month (3/1980) to the following year end (1981), the rate decreased by 40%. At the end of 1982, the Fed Rate was 8.5% and unemployment was still increasing, ending the year at 10.8%.

Fast forward to the post-COVID global inflation: The inflation rate peaked in June 2022 (at 9.1%) and consistently decreased each month thereafter. From the peak month (6/2022) to the following year end (2023), the rate decreased by 63%. At the end of 2023, the Fed Rate was 5.5% and unemployment rate never increased and, in fact, decreased to 3.7%.

So in summary: the inflation rate decreased at a a slower rate in the 1980s, whereas the borrowing rate and unemployment rate, which are trailing indicators, had a much higher borrowing rate in the 1980s and high unemployment in the 2020s was entirely avoided. So to the right-wing ilk on this platform, in comparing Biden to their hero (Reagan) the impact of global inflations appears to be better managed by Biden.