Inflation Cut in Half as America Returns to Pre-Pandemic Economy

Inflation has dropped for 16 months from its post-pandemic highs. Since May 2023, inflation rates have hovered below 4%, returning to pre-pandemic levels last July. The effective implementation of President Biden’s American Rescue Plan is a significant factor in this scenario. The plan has re-employed millions of Americans and created 10 million new small businesses, resulting in record-low unemployment rates and wage hikes, which have helped to offset inflation impacts.