Latest News
January 1, Inflation hits 30-year high
The country’s rate of inflation hit a 30-year high.
The personal consumption expenditure (PCE) price index went up by 0.4% in July—marking the fifth consecutive increase.
The inflation rate currently sits at 4.2%, though the Federal Reserve insists it will fall closer to 2% once the economy returns to normal. However, senior Fed officials have acknowledged that high inflation may persist longer than expected.
The inflation’s blame lies mostly on labor and material shortages.
“With global supply chain and logistics bottlenecks looking set to persist into 2022 and labor costs continuing to grow, inflation could prove to be more stubborn than many have been anticipating,” chief economist of Regions Financial Richard Moody said.
Source:
Inflation rate hits 30-year high, PCE shows, as U.S. confronts major shortages
-
Entertainment3 months ago
‘He’s A Pr*ck And F*cking Hates Republicans’: Megyn Kelly Goes Off on Don Lemon
-
Entertainment8 months ago
Whoopi Goldberg’s “Wildly Inappropriate” Commentary Forces “The View” into Unscheduled Commercial Break
-
Entertainment7 months ago
Late Night Host is Getting Canceled After Staffers Speak Out
-
Entertainment2 months ago
Beach Boys Founder Brian Wilson Announces Tragic News
-
Featured7 months ago
US Advises Citizens to Leave This Country ASAP
-
Entertainment4 weeks ago
Comedy Mourns Legend Richard Lewis: A Heartfelt Farewell
-
Featured6 months ago
Benghazi Hero: Hillary Clinton is “One of the Most Disgusting Humans on Earth”
-
Latest News4 weeks ago
Supreme Court Gift: Trump’s Trial Delayed, Election Interference Allegations Linger