Problem
You will make persuasive essay on a selected topic. A persuasive essay, also known as an argumentative essay, is a piece of academic writing where you use logic and reason to show that your point of view is more legitimate than any other. You must state clear arguments and support them by convincing facts and logical reasons
Make sure to reference sources that you use for this paper. Use Harvard referencing style. It is expected that your essay has been proofread for grammar, punctuation, and spelling
Surging costs for pretty much everything from gas, through food and housing, have been reflected in the U.S. consumer inflation which spiked to close to 9% in June 2022 (measured by CPI, the highest since 1980s!) and although showing a decreasing trend now, as of January 2023, it still remains high on 6.3%.
In your persuasive essay, please explain:
i. First, what caused the spike in the inflation rate in the recent years?
ii. Second, what advice would you give to President Joe Biden (fiscal policy) and the chairman of the Federal Reserve Jerome Powell (monetary policy) concerning an appropriate economic policy for reducing the inflation rate