Bombshell: Look How High Inflation Hit
This is terrible.
In a truly stunning turn of events, it now looks like inflation has rose to an astounding 11.2% which is the highest on record to date! All thanks to President Biden.
According to the Washington Examiner, the Bureau of Labor Statistics revealed that inflation has reached 11.2% for the year ending in March. Furthermore, the inflation rate according to the producer price index report was up another 1.4% compared to the previous month.
This is going to come as an even greater detriment to middle class household across America as they will see even greater price increases.
Fwdbonds’s chief economist Christopher Rupkey explained, “The pipeline is literally chock full of inflation at the lower stages of production which means the consumer’s nightmare of steadily rising prices of everything they buy is not over yet.”
Rupkey further explained that what initially started out as inflation because of the pandemic and supply chain issues has slowly turned into “a nightmarish cost-of-living crisis with no way out.”
This is a slow but almost certain path a recession. President Biden and the Federal Reserve must do something to save the middle class.
