Biden's sterling economic record marred
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Biden yearsCNBC
•US Politics
US Politics
Charting the Biden economy: Despite all the growth and jobs, a deeply unpopular president
83% Informative
Joe Biden leaves the presidency with what appears to be a sterling economic record.
But inflation and its onerous burden on households dwarfed all the other good that happened on Biden 's watch.
Inflation peaked above 9% in June 2022 and has stayed above the Federal Reserve's 2% target since March 2021 .
The share of total net worth held by the richest 1% stands at 30.8% , its highest in about three years .
The surge in wealth, particularly in the stock market, also has skewed benefits, mostly tilting toward those with the resources to buy stocks.
The price to which LaVorgna alluded came in the form of a bloated federal budget in which the deficit hit $1.8 trillion .
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