Stuart Varney: Middle America is not happy

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Varney: Biden presidency has lost its power

FOX Business host Stuart Varney discusses how inflation’s ‘dire’ consequences will affect voting in November.

During his latest "My Take," "Varney & Co." host Stuart Varney explores how ongoing inflation is impacting voters, arguing other political issues are starting to "fade into the background."

STUART VARNEY: It is 10'clock eastern and the story this morning is inflation.

It’s hitting the markets, and it’s hitting you.

Double-digit price rises are making you poor. Cutting your standard of living.

There is a political price to be paid for that.

WHOLESALE INFLATION SURGES 11.3% IN JUNE, ACCELERATING MORE THAN EXPECTED

Some voters are no doubt fired up about abortion, or guns or the climate.

But when you're getting worse off, for most voters, those issues fade into the background

FOX Business’ Stuart Varney discusses inflation rates and why it will impact voters in November. (Fox News)

It reminds me of candidate Reagan’s question to President Carter in 1980: "Are you better off now than you were four years ago?"

Here's another factor that will affect voting this November. The stock market sell-off.

STOCK FUTURES TRADE HIGHER AHEAD OF KEY INFLATION REPORT

That's not going down well with the 100 million Americans who have some exposure to stocks.

It’s usually through 401k's and IRA's. For almost everyone, their pension money is down at least 20%, maybe much more.

Middle America is not happy.

Low-income America is getting swamped.

Inflation has dire consequences for everyone…

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