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The US economy is growing faster, but inflation is also heating up, and there continues to be a disconnect between the strength of the economy and the actual feelings of the American people. According to the latest government data, the US GDP grew at the fastest rate in a year in the third quarter, driven by strong corporate investment and strong consumer spending. However, given how much attention the cost of living issue received before the midterm elections, a September inflation target released on Thursday may resonate more with voters. Republican strategist Doug Heye said, “Voters don't vote by GDP. Inflation is still high, and I think this is the more important figure.” “High inflation is consistent with voters' dissatisfaction with increased spending,” he added.
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The US economy is growing faster, but inflation is also heating up, and there continues to be a disconnect between the strength of the economy and the actual feelings of the American people. According to the latest government data, the US GDP grew at the fastest rate in a year in the third quarter, driven by strong corporate investment and strong consumer spending. However, given how much attention the cost of living issue received before the midterm elections, a September inflation target released on Thursday may resonate more with voters. Republican strategist Doug Heye said, “Voters don't vote by GDP. Inflation is still high, and I think this is the more important figure.” “High inflation is consistent with voters' dissatisfaction with increased spending,” he added.
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