Analyst Counters Pete Buttigieg's Assertion That Inflation Went Down After Biden's IRA 2022: 'They Are Still Rising And You Don't Seem To Care..At All'
Portfolio Pulse from Shanthi Rexaline
Analyst Gordon Johnson challenges Transportation Secretary Pete Buttigieg's claim that inflation decreased after the Inflation Reduction Act of 2022. Johnson argues that inflation is still rising, albeit at a slower pace. Economist Peter Schiff also criticizes the Act, suggesting it could lead to higher inflation due to government spending. The iShares TIPS Bond ETF, which tracks inflation-protected U.S. Treasury bonds, saw a slight decline.
September 26, 2024 | 8:20 am
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The iShares TIPS Bond ETF, which tracks inflation-protected U.S. Treasury bonds, ended Wednesday's session down 0.38%. This decline may reflect investor concerns about ongoing inflationary pressures despite claims of inflation reduction.
The ETF's decline suggests that investors are skeptical about the effectiveness of the Inflation Reduction Act in curbing inflation. The ongoing debate and expert opinions pointing to potential inflationary pressures contribute to this sentiment.
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IMPORTANCE 70
RELEVANCE 80