With six months to go until the 2022 midterm elections, the economic indicators continue to deteriorate for Democrats. While unemployment remains low and the economy continues to grow (except for a recent hiccup that few take seriously), inflation is up dramatically, and interest rates are spiking.
The inflation rate hit 5.4 percent in June 2021, 7 percent in October, and 8.6 percent in March 2022, and that surge in inflation increasingly has economists and some in the business community worrying about inflation and a possible upcoming recession — just the combination that ended President Jimmy Carter’s electoral career prematurely.
Deutsche Bank has already changed its prediction from a “mild” recession to a more severe one. “We will get a major recession,” Deutsche Bank economists wrote to clients recently, according to CNN.
