According to CNN the economy is tanking

[patphil]

60. The inflation rate in 2021 and 2022 was a direct result of the Covid pandemic.

7% in 2021, and 6.5% in 2022.
People should remember that the first 2 years of a president's term the economy is still reacting to what happened in the previous president's term. And that was all Covid.
Given the disaster of the Covid pandemic, we've actually rebounded pretty well. However, it's still very important for the Biden administration to pull the number down to 3% or less over the next few months.
There's a whole lot of people out there who aren't ready to accept what happened, given the struggle they have paying their bills.
All they remember is that inflation used to be low, and they want to go back to that time.
To tell you the truth, it was lower when Obama was president than when Trump was.

https://www.usinflationcalculator.com/inflation/current-inflation-rates/