Home Depot Co-Founder: Biden Policies Fueling Inflation, Hurting Middle and Lower Class Customers
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Home Depot co-founder Bernie Marcus says Biden's policies that fueled inflation are hurting consumers and Home Depot customers.
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Inflation hit a 40-year high of 9.1% in June 2022 amid federal spending and supply chain issues, though it's declined to 3.7% as of September.
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Marcus says customers "can't afford to fill their cars with gas," put meals on the table, pay rent, insurance, etc. due to inflation.
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Marcus worries especially about the impact on middle and lower class Home Depot customers.
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The Federal Reserve has raised interest rates to combat inflation, but prices remain high compared to pre-pandemic levels.