From WSJopinion: Congress ignores inflation because it doesn’t want to admit that its policies are the leading cause. Kill the bill and rescue the American middle class.
For something we’re told is “transitory,” inflation sure is persistent. The latest evidence arrived with a jolt Wednesday when the Labor Department reported that consumer prices jumped 0.9% in October, or 6.2% from a year ago and the fifth straight month higher than 5%.
That’s also the fastest rate since 1990, despite reassurances since March from the White House, Federal Reserve and Keynesian economists that inflation would soon vanish. It follows Tuesday’s report that wholesale prices rose 0.6% in October, or 8.6% from a year earlier. Producer prices flow into consumer prices, assuming businesses believe they have enough market power.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Maybe We Should Have Listened to Larry Summers’s Warnings About InflationLarry Summers may have been right about the risk of inflation. jonathanchait writes on the conclusions we can draw from this episode
Lire la suite »
IRS releases new standard deductions and tax brackets as inflation soarsTax season is months away, but it’s never too soon to know what to expect when it comes to potential refunds — especially when inflation is gnawing at household budgets.
Lire la suite »
Double Whammy From Inflation Data Ups Risk For MarketsCPI and PPI inflation have both spiked for October, suggesting the transitory inflation view may prove too optimistic.
Lire la suite »
Despite GOP pushback, Build Back Better plan remains popular.MaddowBlog: Americans support President Biden's Build Back Better agenda. Democrats will not benefit from abandoning their own popular plans.
Lire la suite »
Poll: Biden bets big on Build Back Better — but the more Democrats cut, the less popular it getsAs Democrats bicker in Congress and whittle away at President Biden's much-reduced Build Back Better proposal, its popularity with Democratic voters is waning, a Yahoo/YouGov poll finds.
Lire la suite »