Global elections show voters' wrath against rising inflation levels

The US election shows the conventional wisdom was right all along: Controlling inflation should be the primary focus of macro policy

A spectre is haunting the elected heads of the world — the spectre of inflation. It seems voters hate nothing more than inflation, and this has caused multiple incumbents across the world to lose support in elections.

 

The resounding defeat of the Democratic Party in the United States’ recently concluded presidential elections has been assigned to many factors — the foolhardy decision of the incumbent president, Joe Biden, to run for a second term before he was pushed out; the growing divide between conservative men and progressive women; and the loss of faith among Hispanic voters in the centre-left. All