We've been told by pretty much every major media outlet that we are now in a soft landing.

This means that inflation has started to decline.

The economy continues to sail along.

Yet strangely, nobody is feeling like that.

And this has been the big perplexing question for Democrats.

Why is it that the economy is so amazing?

But nobody actually feels like the economy is so amazing.

One reason is that, contrary to popular opinion, but nobody actually feels like the economy is so amazing.

Well, one reason is that, contrary to popular opinion, we have not yet defeated inflation.

And the latest news on that front came in yesterday.

According to the Wall Street Journal, stubborn inflation pressures persisted in March,

derailing the case for the Federal Reserve to begin reducing interest rates in June,

and raising questions over whether it can deliver cuts this year without signs of an economic slowdown. The Consumer Price Index, a measure of goods and service prices across the economy, rose 3.5% in March from one year earlier, according to the Labor Department.

That was a touch higher than economists had forecast and a pickup from February's 3.2%.

So-called core prices also rose more than expected on a monthly and annual

basis. This, of course, drove the stock market down, some 500 points. It also meant that bond yields

started to go up. The bottom line here is that inflation continues to run almost twice what it is

supposed to be running. Remember, that year over a year, the inflation rate is supposed to be about 2%.

It is currently running at 3.5%.

And when you add that on to the giant inflationary bubble that we had in 2021 and 2022,

you're talking about prices that are up like 20% for most Americans.

Joe Biden's economy has not made up those wage losses.

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