Inflation Now As Out Of Control As Biden’s War Policies?

DOL says Inflation accelerated 7.5% in Jan, hitting a new 40-yr high. WSJ blames surging prices for autos, furniture & appliances while food & gasoline sticker shock gets more shocking & warns it’s costing average Joe $250 per month. Joe’s Wars on fossil fuels & Covid helping?

“This is not encouraging news for the Fed in its battle to get inflation heading back towards [its] 2% target,” said James Knightley, chief international economist at ING, noting the Fed is expected to raise its interest rates in March. But, “rate hikes will nothing to resolve supply chain strains and worker shortages …”

WSJ says “high inflation is the dark side of the unusually strong economy, posing a challenge to the Federal Reserve as it tries to quell rising prices without damping growth.” Yet, how many citizens want to hear all the economic mumbo jumbo when the WSJ also projects the current and ongoing inflation rise is costing them big time in purchased goods and services?

Davd Soul