bidecession

Accelerating inflation caused by excessive government spending that increased the amount of money in the economy combined with measures taken by the Biden administration that sidelined workers and impacted the production of goods and services. This miss-match of too much money chasing to few goods created the pressures for large increase in prices. Add to that the Biden adminstration's energy policy that disincentivised energy investment in all areas except a few niche sources like wind and solar coupled with sanctions that, while attempting to hurt Russian oil profits, actually increased costs for Americans and profits for Russian oil companies. The past four recessions have been preceded by sharp hikes in energy prices and the 2022 peak of oil at $120 a barrel confirms that costs for all Americans will continue to rise leaving the centralized government minimal tools to combat, namely to increase interest rates which will increase unemployment.