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Obama Adviser Tells NY Times That Democrats Are Doomed By Inflation, ‘Nothing Can Change’

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Former Obama economic adviser, Jason Furman, who currently works as an economist at Harvard University, told the New York Times on Thursday that Americans’ negative views on inflation are so deeply ingrained that there is nothing Democrats can do to change them.

Fox News reported that speaking with the newspaper, Furman, who currently works as an economist at Harvard University, said that inflation is a “very negative thing” for Democrats, politically speaking.

“My guess is that the negative views about inflation are so deeply baked in that nothing can change in the next few months to change them,” he added.

Inflation jumped again in June on a persistent climb in gas, food and rent costs, notching another 40-year high and likely solidifying the Federal Reserve’s plans for another big rate hike this month.

Prices increased 9.1% from a year earlier, up from an annual rate of 8.6% the prior month and the largest gain since November 1981, the Labor Department’s Consumer Price Index showed Wednesday. Economists surveyed by Bloomberg had estimated inflation would rise to 8.8%.

This data came after a recent New York Times/Siena College poll, which saw the president sitting at a 33% approval rating. The poll showed that 64% of Democrats would prefer a new nominee in 2024.

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