In 2025, as in 2024, disinflation failed to make any progress in the United States. For five years now, consumer prices have been rising faster than the Fed's target. If this situation persists in 2026, it could affect the macro and political landscape. First, households remain highly concerned about their purchasing power, which is worrying the White House with the mid-term elections looming. The Republicans had accused Joe Biden of causing the inflation shock. The backlash now sees Democrats a...
En 2025 comme en 2024, la désinflation n’a fait aucun progrès aux Etats-Unis. Depuis cinq ans maintenant, les prix à la consommation progressent plus vite que la cible de la Fed. Si cette situation perdurait en 2026, cela pourrait affecter la situation macro et politique. Primo, les ménages restent d’être préoccupés de leur pouvoir d’achat, ce qui inquiète la Maison Blanche alors que les élections de mi-mandat se profilent. Les Républicains avaient accusé Biden d’avoir causé le choc d’inflation....
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