WATCH: Biden says he's leaving economy 'stronger than ever' for Americans as his term nears end
www.pbs.org
President Joe Biden lauded his administration’s record on the economy after the labor department reported Friday a surge in job growth and decline in unemployment last month.

Summary

President Joe Biden highlighted his administration’s economic record, citing consistent job growth and a 2.7% inflation rate drop from its 2022 peak.

December’s jobs report showed 256,000 new jobs and declining unemployment, signaling steady economic growth.

However, inflation remains above the Federal Reserve’s 2% target, and interest rates remain high, impacting homebuyers and businesses.

Public pessimism lingers on affordability as Biden passes a largely strong economy to his successor, Donald Trump.

  • djsoren19@yiffit.net
    72·
    2 days ago

    It’s required in any system that uses a fiat currency. Maybe a fiat currency is evil incarnate, but it also offers a lot of conveniences. Personally, I think I’d prefer having some number that translates my labor into spending units, and fiat currency works about as well as anything else when carefully managed.

    • ubergeek@lemmy.todayEnglish
      44·
      2 days ago

      Personally, I think I’d prefer having some number that translates my labor into spending units

      How about non-transferable labor vouchers?

      Even in a system with fiat currency, inflation is not a requirement. Its only a requirement under a capitalist system, that demands profits rise constantly.