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Yes, inflation is down. No, the Inflation Reduction Act doesn’t deserve the credit

Even President Joe Biden has some regrets about the name of the Inflation Reduction Act: As the giant law turns 1 on Wednesday, it’s increasingly clear that immediately curbing prices wasn’t the point. While price increases have cooled over the past year — the inflation rate has dropped from 9% to 3.2% — most economists say little to none of the drop came from the law.

Media Miss by the Right

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Left 55%

Center 37%

Right 8%

Bias Distribution

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Far
Left

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Left

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Far
Right

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48 other sources covering this story

Total News Sources

48

Leaning Left

21

Center

14

Leaning Right

3

Last Updated

10 months ago

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