President Joe Biden cautioned that US inflation could last
“We’re gonna live with this inflation for a while,” Biden said at a Democratic fundraising event in Beverly Hills. “It’s gonna come down gradually, but we’re going to live with it for a while.” The administration and many professional economists initially thought that inflation pressures would be “transitory,” easing as the recovery from the COVID-19 pandemic continued.
US consumer inflation hitting a 40-year high 8.6% in the 12 months through May, with gasoline marking a record high and the cost of food soaring, Labor Department data showed.
Does that sound weird. Politically Sensitive Price Pressure So it’s Politically induced Price Hikes, and for political gain.
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