Wage growth in the U. S. far outpaced inflation during Trump’s first term, much to do with low energy prices thanks to the MAGA agenda, but now with Biden as president, inflation far outpaces wage growth, this illustrated on a chart shown by economist Steve Rattner on Morning Joe today without mentioning of course that the good was during Trump’s first term, and the labeling on the chart tiny, with the same color between the two graph lines before then after Biden’s “victory” in 2020.
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