Bidenflation is at an all time high. Americans are struggling and tired.
“Consumer price index data due out this week will show soaring U.S. inflation hit another four-decade high last month even as President Joe Biden claimed rising prices are more to do with malevolent outside forces than his own economic (mis)management,” reports Breitbart News.
“The Financial Times forecasts consumer price index data available from Thursday will show a rise of 8.4 per cent year over the past 12 months based on estimates from Bloomberg, the fastest pace since 1981,” according to Breitbart News.
“While the surge in U.S. consumer prices keeps accelerating it looks like the Biden administration still lacks the means – and the political will – to tackle headline inflation,” reports Breitbart News.
The FT explains:
The gap between headline and core CPI points to a growing problem for the Federal Reserve.
Inflation produced by supply chain bottlenecks or sanctions on Russia is not within the Fed’s direct control, but will nevertheless produce a higher headline number. That could prompt calls for evermore aggressive policy.
First gas, then heating and now rents. Runaway inflation is driving rents skywards across Joe Biden’s America, delivering an average of a 20 percent increase in the U.S.’s biggest 50 cities over the past 12 months, a study details. https://t.co/5j1UgN8y7J
— Breitbart News (@BreitbartNews) February 21, 2022
“Former Treasury Secretary for Barack Obama Larry Summers told the Harvard Gazette in an interview last month government intervention in the economy is partially responsible for inflation, suggesting it was an overreaction to the coronavirus pandemic,” reports Breitbart News.
“We had an economy where income was running short by $50 billion a month because of the pandemic, and we injected $150 billion to $200 billion a month into that economy,” Summers wrote.
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