Inflation Meter Hits New Level, Biden In Panic
This is getting BAD!
In a shocking turn of events, it now appears that inflation in the United States has officially hit a more than 30 year high due to the supply chain crisis, high consumer demands, and irregularly high rise in wages due to a higher cost of living.
According to Fox Business, overall prices surged by 5% for the year by October which exceeded previous predictions and was the fastest increase since November for 1990.
Not only that, but food and energy alone saw an increase of 4.1% which was higher than in 1991. The Federal Reserve was expecting inflation for food and energy to be at around 2% at most.
If household costs seemed tougher in October, you weren’t wrong. The average household cost also rose by 1.3% in October.
Fed Chairman Jerome Powell, who Biden just elected to hold his position for another four years, begged for the Fed to use it’s “full arsenal” to stop even more inflation from becoming permanent.
“We know that high inflation takes a toll on families, especially those less able to meet the higher cost of essentials like food housing and transportation,” Powell stated. “We’ll use our tools to support economy and labor market and prevent higher inflation from becoming entrenched.”
