President Biden made a big bet on an economic rebound when he took office in January 2021, just as the U.S. economy was ramping up its recovery from the COVID-19 recession. The combination of a $2 trillion stimulus package passed in March 2021, the Federal Reserve’s refusal to raise interest rates and a swift vaccine rollout helped power the U.S. to two years of stellar job growth and steady consumer spending. But the high inflation left in its wake — driven largely by factors outside Biden’s control — has damaged some of the benefits of the bounce back for many American households. Republicans are counting on high prices and recession fears to help them secure majorities in
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