As parents look to make the Easter holiday fun for their kids, the popular tradition of painting eggs has stopped being a viable financial option for some families, according to Washington Free Beacon. Since taking office, a number of economic policies and projects of the Biden administration has left some critics placing the blame on the rising cost of consumer products on the president.
The U.S. economy is now reportedly set to contract and undergo a recession as the Federal Reserve attempts to tame rampant inflation by raising interest rates. But in the meantime, families are struggling to purchase eggs, which have increased 55.4% in February compared to just a year earlier, according to Axios. Potatoes have also increased, but only by 13.5%.
Erin Bracken, a mom who works with Potatoes USA, said that people are looking to save money and have their children paint potatoes instead. But she offers a silver lining, saying that potatoes are not as fragile as eggs and the change could be exciting.
The Federal Reserve is reportedly watching inflation closely as they determine whether or not to continue raising interest rates. In late March, the Fed projected an economic contraction later in the year, although the market is indicating that might still be too optimistic, according to Breitbart.
Focused on easing inflation, the Fed raised interest rates from 4.50% to 4.75%, representing a significant change from when it was just zero at the beginning of 2022, according to Newsmax. Many of the president’s critics blamed him for his excessive spending despite inflation reaching an all-time high of 9.1%.
Republican lawmakers passed the Reduce Exacerbated Inflation Negatively Impacting the Nation (REIN IN) Act earlier in March, according to OANN. The legislation will reportedly tackle Biden’s executive orders by demanding that the administration answer how each will mitigate inflation.