Gas prices are another issue the White House continues working to get the public beyond. The Biden administration has proposed a gas tax moratorium; yet, public reactions to this remain shaky at best.
Democrats and Republicans have each pointed out problems with this, saying it won’t truly provide relief to Americans in need of it. The moratorium likewise carries the potential to withdraw funds from infrastructure projects that need it.
Currently, 46% of Americans don’t back Biden’s latest solution to high gas costs.
Little help from the Federal Reserve
As the economy deals with inflation and other issues, the Federal Reserve continues to grow interest rates. The Fed argues this will cause inflation to ultimately lower; however, this is not panning out.
Inflation actually just increased to 8.6%. Meanwhile, as the central bank argues that its interest rate hikes will make inflation fall, Americans remain financially strapped.
When interest rates go up, this means everyday people spend more on cars, mortgages, credit card payments, etc.
