evidence: Since Biden entered office, three key macroeconomic metrics gauging the purchasing power of Americans through their wages and disposable income have each increased at a slower pace than inflation, supporting Scott’s claim. [...] Biden made a similar claim to Yellen’s in an interview with Time Magazine on May 28, arguing that "wage increases have exceeded what the cost of inflation, which you’re talking about as the prices that were pre-COVID prices." [...] Recent short-term changes in consumer purchasing power also support Biden’s argument. Between May 2023 and May 2024, average hourly earnings growth has outpaced price increases, growing at an inflation-adjusted rate of 0.81%. Additionally, between the first quarter of 2023 and the first quarter of 2024, real disposable personal income per capita has increased by 1.11%. Finally, real median weekly wages increased by 0.55% between the first quarter of 2023 and the first quarter of 2024.