Inflation hits 5.4% from year ago, matching 13-year high
President Joe Biden’s economic plans continue to suffer, as millions of Americans find themselves getting financially slammed.
President Joe Biden’s economic agenda is leading to higher and higher prices for many basic goods.
“The annual increase in the consumer price index matched readings in June and July as the highest in 13 years, the Labor Department said Wednesday,” according to the Associated Press.
“The ongoing price gains raise pressure on the Federal Reserve, whose officials have repeatedly said the increases will be transitory, and on President Joe Biden, who is facing an economy of slowing job gains and higher inflation. Biden has been accused by Republicans for spurring inflation with his $1.9 trillion rescue package enacted in March of this year,” the AP reported.
“The unexpected burst of inflation this year reflects sharply higher prices for food and energy, but also for furniture, cars, televisions, and other largely imported goods. COVID-19 has shut down factories in Asia and slowed U.S. port operations, leaving container ships anchored at sea and consumers and businesses paying more for goods that may not arrive for months,” the AP said.
The shipping backlogs, which are really more of a symptom of bad policy, has led to questions about where Secretary of Transportation Pete Buttigieg is and how he is stepping up to help Americans.
“The scenes of huge traffic jams at our major ports, where ships are idling for weeks and even months, is another devastating indictment of the Biden administration,” Fox News host Laura Ingraham said recently. “We brought this up a few weeks ago. New York, LA and now Savannah, Georgia, are in total gridlock.”
Do you think the Biden team needs to apologize for the high inflation? Do you wish Trump would run in 2024? Let us know below!