The White House ignores inflation Armstrong Economics

No one expected the recent 25-basis point increase in a meaningful way to reduce inflation. There are numerous variables to contribute to this situation that are beyond the control of the Fed at this time. The Personal Expenditure Price Index (PCE) rose 5.4% in March on an annualized basis. This is the most significant leap since April 1983. Headline PCE grew 6.4%, the fastest pace since January 1982, as gas and food costs rose.

Consumer spending rose more than two-thirds of US GDP, a marginal 0.2%. The plan to destroy America to make the build back better has done significant damage to our economy. A visit to the White House website shows that our so-called leaders are still more focused on Klaus Schwab’s agenda than the people. Listed Priority, Covid is at the top of the list, after climate change. The policies that surround both are hurting America rather than the problem itself. The third priority is racial equality, and the economy at number four.

“President Biden will take bold steps to address inequality in our economy and provide relief to those who are struggling during the Covid-19 epidemic. The president will work with Congress to change the course of the epidemic, build a bridge toward economic recovery, and pass an American rescue plan to invest in racial justice. And, he will rebuild our economy from the epidemic and create millions of jobs by strengthening small businesses and investing in future jobs. ”

In other words, the Biden administration is doing absolutely nothing to control inflation and this is not a top priority. At the time of writing, there is only one article on the homepage that delays inflation. They alone cannot take responsibility for the damage they have done.

The Federal Reserve has acted very slowly, acknowledging, and artificially lowering rates, losing all leverage. Uncomfortable, but the people in charge are not concerned about the declining standard of living of Americans. Focus is great propelling reset.

“One in five Americans broke their paycheck the day before

Leave a Reply

Your email address will not be published.