The consumer price index has jumped 4.2% over the last 12 months, the fastest pace of inflation since 2008, according to a Department of Labor report.
The consumer price index (CPI) increased 0.8% between March and April, according to the Labor Department report released Wednesday morning. Economists projected that the CPI increased by 0.2% last month and 3.6% over the 12-month period ending in April, according to The Wall Street Journal.
Along with a working vaccine, Joe Biden inherited a V-shaped economic recovery, but he is now planting the seeds of its destruction. Inflation, federal deficits, high taxes, incentives for workers to stay home, and incentives to avoid investment – they’re all coming back. Together, these elements create the perfect brew for a Lyndon Johnson-style stagflation. If Biden and the Democrats so quickly wreck the good economic path they were given, it will be one of the worst examples of government malpractice in U.S. economic history.
In the first, dark days of the COVID-19 national economic shutdown last spring, there was a clear need for major stimulus. Both parties united to pass an effective and much-needed response.
The U.S. gross domestic product saw a 33.4% surge in the July-September third quarter of 2020, after plunging 31.4% in the April-June second quarter. The economy continued to grow at a 4% rate in the fourth quarter, and the stock market (despite COVID) ended 2020 with the S&P 500 index up 16% for the year as a whole.
Thursday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed financial expert and Fox News contributor Liz Peek to the newsmakers line to weigh in on fiscally irresponsible federal spending, inflation, and those industries in which we will see the repercussions.
Wednesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed Washington Correspondent for the Star News Network Neil W. McCabe to the newsmakers line to weigh in on democratic overspending in infrastructure and tax bills, the oncoming red wave of 2022, and Republican candidates for the House and Senate.
Wednesday morning on the Tennessee Star Report, host Michael Patrick Leahy welcomed the original all-star panelist Crom Carmichael to the studio to breakdown the economic ramifications of COVID and the Democratic Party grifters.
by Nick Givas Former California GOP Chairman Tom Del Beccaro listed nine ways in which America is moving towards socialism during an appearance on “Fox & Friends” Monday. Del Beccaro said increased government spending and inflated tax codes are just the beginning and claimed they’ll have a domino effect on…
by Hanna Bogorowski Venezuela introduced a new currency on Aug. 20 as a hopeful solution to the country’s rapidly devaluing currency and skyrocketing inflation rates, but after just a few weeks, Venezuela is already seeing 100 percent inflation. The Venezuelan government issued the new currency, called the “sovereign” bolivar,…
A record spike in fuel prices following the summer’s back-to-back hurricanes drove up a closely watched US inflation measure in September, but the underlying trend remained weak, government figures showed Monday. The new figures come as the Federal Reserve prepares to begin a two-day meeting on Tuesday, with policymakers widely…