13
Jul
On Wednesday, National Economic Council Director Lael Brainard delivered remarks at the Economic Club of New York on Bidenomics and how our economy is “defying predictions.” The remarks followed new data yesterday showing that inflation has fallen for 12 straight months to 3%—the lowest it’s been in over 2 years—while “core inflation is also declining.” As Director Brainard put it: “The economy is defying predictions that inflation would not fall absent significant job destruction.” “Despite repeated forecasts that recession is just around the corner, the U.S. recovery is solid.” Inflation has fallen against the backdrop of a historic labor market recovery. Unemployment…