Not sure how to break this to you, but Biden was not elected in March 2020. He wasn't even president in 2020. The last 3 years isn't the last 4 years, which isn't the last 5 years.
My point is if Powell wants to compare dates in good faith, he would make them consistent and reflect on that. "Groceries are up X% in the last 2 years but gas is down Y% during that same time. Maybe people find groceries more compelling than gas." These are the types of things that legitimate economists and journalists do. Powell is not. He instead cherry picks smatterings of years to make the big numbers and incredulously claim that "smug liberals can't look at the data." But they are, and that's why they're baffled. He is just looking to dunk on "liberal elites".
Really shitty discourse to accuse someone of not reading the article when I'm literally quoting it, but do you.
Gas prices are down 30% since June 2022. Dead even since March 2014. Why did he pick March 2020? Because it was the absolute lowest prices of the entire decade due to a global pandemic. Every date he picks to compare is arbitrary. It's not a comparison of "people felt good in 202X, and now they don't feel good. Let's compare the data." It's cherry picking.
Other staples of life have also grown more expensive. Gas prices have gone up by about 50 percent in the past four years. Fuel-oil prices jumped by more than half from March 2020 to March 2024
Ok? I'm not defending this shit bag, just trying to explain the weird headline phrasing.