The first televised debate in the U.S. presidential election began with a mention of the U.S. economy and inflation.
US President Joe Biden, a Democrat, said he inherited from Republican Donald Trump an "America with a collapsing economy and rising unemployment" when he took office, BBC reported.
"We have to bounce back," Biden said. He also said things were "very bad" under the Republican Trump administration, saying Trump had "done nothing."
Biden used the word "chaos" several times.
On June 30th, Raphael Bostic, the president of the Atlanta Federal Reserve Bank, stated that tariffs might have a gradual impact on prices rather than a one-time shock, which could lead to more persistent upward pressure on inflation.
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