President Joe Biden touted the country’s falling inflation and low unemployment during his annual State of the Union address. Here are the facts and the context.
This is Biden’s fourth State of the Union speech. Since he was sworn into office, the country has experienced the worst inflationary scourge in decades, and people are still burdened by the higher prices and the higher interest rates.
The state of the economy is still quite poor in the minds of voters, despite the positive developments that Biden discussed on Thursday night. The Biden administration has sought to explain to voters how the economy is, in many ways, outperforming expectations. But Biden also left out key details that might look unfavorable to his constituents.
Inflation
Inflation is supposed to run at a 2% annual pace
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