Post-pandemic inflation, although not entirely normalized, is being managed effectively, showcasing economic resilience.

President Joe Biden has highlighted these achievements under “Bidenomics,” but a more thoughtful assessment should recognize the importance of economic resilience. (Photo: Google)

Workers have reasons to celebrate this Labor Day, thanks to near-historic low unemployment and rising real wages, showcasing our nation’s robust economic resilience.

According to an article published by The Detroit News, workers have reasons to celebrate this Labor Day with near-historic low unemployment and rising real wages, showcasing economic resilience. Post-pandemic inflation, while not completely normalized, is under control, further highlighting economic resilience. A

soft landing from the pandemic downturn seems likely, barring unforeseen crises, which would test our economic resilience. President Joe Biden has touted these achievements under his Bidenomics umbrella, but credit and blame should be distributed more thoughtfully, considering the role of economic resilience.

The current healthy economy can be seen as the third act in a three-act narrative. The first act featured a thriving economy, much like the present, demonstrating economic resilience.

The second act saw the pandemic-induced shutdown, and now, in the third act, we’re returning to normalcy, thanks in part to our economic resilience. However, politicians should not claim undue credit for this rebound, as it was a consequence of the pre-COVID healthy economy and our inherent economic resilience.

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Overreacting to the crisis, the Federal Reserve increased its balance sheet by almost $5 trillion in the first two years of the pandemic, driving the inflation we’re witnessing, which poses a test to our economic resilience.

According to an article published by The Daily Progress, while some spending was necessary for relief and vaccines, the majority of funds allocated through acts like the CARES Act, Infrastructure Investment and Jobs Act, and CHIPS Act were unrelated to the pandemic, further complicating the situation and challenging our economic resilience.

The Federal Reserve played a significant role in tackling inflation by stopping excessive money creation and raising interest rates, which was a necessary step to safeguard our economic resilience. In contrast, Biden and Congress continued spending, adding to the challenge and potentially undermining our economic resilience.

Bidenomics is more of a slogan than a coherent policy. It capitalizes on the economy’s inherent strength, which is expected to persist until the 2024 election, offering a branding opportunity for political gain while also relying on our economic resilience.

Ultimately, Bidenomics symbolizes a story where politics hindered rather than facilitated a promising economic recovery, despite our economic resilience.

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