Anger over inflation doesn’t end with Biden’s campaign

?? Welcome to Trendlines. Today’s secret word is “unprecedented.”

I'm Boston Globe financial columnist Larry Edelman , and today I look at why a new Democratic candidate for president will face the same old anger over inflation.

Plus: Persistence pays off for a Quincy official with a good idea for helping jobless workers navigate the Department of Unemployment Assistance.

Trendlines is my twice-weekly newsletter for Boston Globe Media . Click the subscribe button to keep on top of business and the economy in the region and beyond.

Reboot

With Joe Biden out of the race, running a fading octogenarian for the grueling job of president is no longer the top issue dogging Democrats. Donald Trump, 78, is now the oldest person to be nominated for the job.

But if Vice President Kamala Harris, 59, winds up at the top of the Democratic ticket, she will still face deep anger over the painful inflation that marred her boss’s first term. The same holds if another Democrat gets the nomination.

??? Where voters stand

The cost of living was the most pressing concern of respondents — for Republicans, independents, and Democrats alike — in a poll last week by The Economist and YouGov, beating out even immigration, which has stirred so much vitriol.

????? Why it matters

As veep, Harris is joined at the hip with Biden. She inherits his economic record, for better and for worse.

• Better: an expanding economy, low unemployment, rising wages, and a stock market that is near an all-time high.

• Worse: consumer prices that have soared 20 percent since before the pandemic, and interest rates that are at the highest level in two decades.

???? Harsh reality

Many Americans simply don’t care that most economists believe pandemic-related factors largely drove costs higher, and that heavy stimulus spending under Biden was a secondary cause.

• While partisanship is skewing economic perceptions, people are nonetheless under real financial stress from factors that predate both Biden and Trump, including steep housing, health care, and child care expenses.

?? The platform

Harris has been a full-throated supporter of Biden’s biggest legislative achievements: the Infrastructure and Investment Act, the Chips and Science Act, and the Inflation Reduction Act.

?? Final thought

Biden was not a viable candidate after his debate disaster. His decision to step aside takes the issues of age and acuity off the table.

But while Democrats will ride a new horse into the election, their wagon will be weighed down by the baggage of inflation.

?? Trending

Transportation : Delta Air Lines says cancellations continue as it tries to restore operations after Friday's tech outage.

Politics & Policy : Massachusetts lawmakers agreed to a deal prohibiting "home equity theft" by municipalities seeking back taxes.

Markets : A stock market rotation of historic proportions is taking shape.

?? The Closer

Ron Iacobucci , executive director of Quincy’s Workforce Development Department, worked tirelessly to help jobless workers navigate the impenetrable bureaucracy of the Department of Unemployment Assistance.

His simple idea: put a DUA customer service agent in all MassHire career centers, which provide employment and training services.

Iacobucci, who runs MassHire's South Shore center, worked with his state representative, Bruce J. Ayers, to file a House budget amendment mandating the DUA provide walk-in assistance at all MassHire centers.

The amendment failed in the House. But the Senate picked it up, and last week the provision made it into the final budget.

"Still need that spotlight because now we need to implement the in-person services," Iacobucci told me by email.

?? Congrats to Ron for not giving up on his idea. Thanks for reading. Trendlines will be back on Thursday.

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