Biden keeps claiming that inflation is no big deal, he will control it, and we should all just wait it out. But, it keeps getting worse, and the latest report tells us it his 8.2 percent over the last year.
Per the Washington Examiner:
The much-anticipated numbers reported by the Bureau of Labor Statistics on Thursday revealed that while it ticked down by one-tenth of a percentage point, inflation is still higher than anticipated and defying the Federal Reserve’s aggressive interest rate hikes.
Worse, “core inflation,” which strips out volatile food and energy prices, rose sharply in September. On an annual basis, it rose to a whopping 6.6%, the highest since 1982.
Stocks immediately took a hit upon the news breaking. Futures of the Dow Jones Industrial Average were down some 500 points just minutes after the report’s release. The S&P 500 was off by about 2%, and the tech-heavy Nasdaq plunged nearly 3%.
This is not the end of it. We know that it will be getting worse. And it is getting worse every day.
Will this presidential election be the most important in American history?
Pay attention, America. You can fix this on Election Day.
Follow Warner Todd Huston on Facebook at: facebook.com/Warner.Todd.Huston, or Truth Social @WarnerToddHuston
Cross-posted with iPatriot
Related:
- Inflation Still Running Hot, Real Incomes Down As Congressional Democrats Run Out Of Time
- Biden Parties Over ‘Inflation Reduction’ Just As Inflation Surges Upward
- Inflation, Recession Still Weigh Heavily In Independents’ Minds Ahead Of Congressional Elections
- Economist with Long Record of Accuracy Says Recession will be a ‘Whopper’ in 2023 and 2024
- Watch Karine Jean-Pierre Spin Herself Dizzy Over High Gas Prices, Claim We Are In ‘Transition,’ Not Recession (Video)
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