Economy

Why Biden is the biggest threat to his own economy

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U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021.

Kevin Lamarque | Reuters

Halfway through 2021, and about six months into the Biden administration, the U.S. economy has by many metrics made a full recovery from the Covid-19 pandemic.

One year ago, nationwide business closures sent the unemployment rate climbing to 13.3%. It’s now at 5.8%. Average hourly wages are now higher than they were just before the pandemic.

The stock market is at record highs, and U.S. consumers are now feeling more confident than at any point in the last 16 months. GDP,…



Source cnbc.com

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