I dunno, man. The firehose of economic data I point at my face every morning is a giant stack of spooky shit. I think the fact that 2009 wasn't straight sorted has everyone jumping at loud noises. I agree with you - the Biden administration is gonna get pilloried no matter what but if you take a look at the WSJ's targeted stream of vitriol it's all about Powell. Believe it or not, they seem to hate interest rates more than they hate Democrats in this moment.
You'll remember that Yellen wanted to raise rates in 2018 or whenever, so Trump didn't renominate her in favor of Powell. Then when Powell was like, "yeah she was right" Trump threatened to fire him, too, until he got in line. Clearly that was Murdoch whispering through Hannity directly into Trump's ear. They don't have that direct line anymore, so they have to just browbeat him in the media.