With the inflation rate running at 3%, who do you blame for high grocery, home and health care prices? The cumulative inflation in Biden’s first 18 months was two to three times higher than under Trump over the same time frame.

Meanwhile, this week’s readings on inflation are encouraging: consumer and producer prices were basically flat in July. Fed Chair Kevin Warsh is guiding inflation back down to below the 2% target.

Of course the X factor is Iran and the oil flow. We’ve learned painfully that disruptions in the Middle East supply can send the price trends here at home spiraling right back up.