US and UK Inflation Drop in October, Raising Hopes of 'Soft Landing' But Political Gains Uncertain
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US inflation fell sharply in October, raising hopes the Federal Reserve can achieve a soft landing without triggering a recession.
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If the Fed pulls this off, it would be a major feat not accomplished in 80 years. But Biden may not benefit politically.
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UK inflation also dropped in October, but the UK economy is in worse shape than the US.
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Reasons include less stimulus spending, lower investment, poor productivity like the NHS, and weak stock market compared to the US.
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UK may also achieve a soft landing, but like Biden, Sunak may not get much credit from the gloomy public mood.