In a fiery exchange during CNN's head-to-head presidential debate in Atlanta, former president Donald Trump unleashed a scathing attack on his successor's economic record, declaring that "inflation is killing our country" under the leadership of President Joe Biden, as reported by Vanguard.
"He has not done a good job. He's done a poor job," Trump said, adding that Biden "destroyed" the strong economy he had inherited. "Inflation is absolutely killing us."
Trump claimed he had left Biden with "essentially no inflation" when he departed the White House in 2021. "It was perfect. It was so good, all he had to do is leave it alone," he said.
In response, Biden pushed back forcefully, arguing that the economic situation he faced upon taking office was dire, with the country "flat on its back."
He touted his administration's success in creating "millions" of new jobs, including in minority communities.
Inflation has indeed emerged as a major vulnerability for Biden as he seeks re-election.
Data shows consumer prices have risen by around 20% since he took office in January 2021, compared to less than 6% under Trump's final two years.
While the causes of the current inflationary environment are complex - including pandemic-related supply chain disruptions and the impact of Russia's invasion of Ukraine - the public appears to be squarely blaming the incumbent.
A recent Gallup poll found that 46% of Americans have "a great deal" or "a fair amount" of confidence in Trump to do or recommend the right thing for the economy, compared to just 38% for Biden.
The Federal Reserve's aggressive interest rate hikes, aimed at cooling demand and taming price pressures, have so far had only limited success.
Trump has suggested he would pursue further tax cuts and restrictions on immigration if returned to power - policies that could stoke inflation, according to analysts.