A majority of Americans, 61 percent, blame the Biden administration for soaring inflation, which is currently at a 40-year-high, according to a new survey published by WalletHub on July 20.
The survey was conducted online from July 4 to July 8 to gauge what people know about the interest-rate increases by the Federal Reserve (Fed) and how they impact consumers’ finances.
Another 26 percent blamed Russian President Vladimir Putin, who in February launched a “special military operation” in Ukraine that has affected the cost of everything from oil to food.
Meanwhile, 13 percent of those surveyed blame the Fed for inflation.
With the 12-month Consumer Price Index (CPI) reaching 9.1 percent in June, Fed officials are now widely expected to hike interest rates by as much as 100 basis points next month….