Where the Democrats went wrong is they looked at the economic figures for stuff like corporate profit margins and the stock market and said "look how good the economy is!" when those profit margins are high because they've jacked prices and regular consumers are feeling the squeeze. Unfortunately there's little a President can do about that. Corporate consolidation was largely complete before they even took office and monopolistic behavior is to be expected. The pandemic supply chain disruptions gave companies cover to increase their margins and that's what they did.