Mighty big of them to at least admit what they’re causing.
The Consumer Price Index rise for April from a year earlier was the sharpest since September 2008.
Economists surveyed by Dow Jones had been looking for an increase of 3.6%.
One big reason for the acceleration was base effects – at this time a year ago, the economy was hit with the worst of the Covid pandemic and inflation was unusually low.
Federal Reserve officials see the current rise as temporary and not likely to influence policy.
Only temporary! Over soon! Pandemic!
Maybe the Israelis and Palestinians – all Amerikan and more Amerikan than you(!) – could take the party down to 100 Liberty Street. The Fed’s numbers are always cooked. So 4% inflation could easily mean 6-8%. But … I’m sure they have some brilliant plan. And where’s Sleepy Joe on all this? They could wake him with the great news that gas prices have stopped rising. You know, prices don’t matter when there’s zero supply!
Ah. Third-world Amerika…