This week in Bidenomics: The bear-market president

President Biden talks a lot about inflation. He typically takes two tacks. One, he acknowledges it’s a serious problem for ordinary families. Two, he explains what he’s trying to do about it.

Biden almost never talks about the stock market—but maybe he should start acknowledging the pain it is causing, too. The S&P 500 index is down 24% from its peak early this year. The tech-heavy NASDAQ is down by a punishing 33% from its peak last November. Stocks rise and fall as a matter of course…

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