The annual inflation rate in the U.S. unexpectedly accelerated to 8.6% in May of 2022, the highest since December 1981.
“The simplest explanation for higher prices is that we know that the economy was completely shut down two years ago, at the global economy,” said CBS News business analyst Jill Schlesinger on KIRO Newsradio. “And that put a lot of pressure on supplies.” The Nasdaq Composite fell 4.7% by market close to end at its lowest level since September 2020. The S&P 500 dropped 3.9%. This set the index more than 20% below its recent record high from January, meaning it had officially fallen into a bear market.
The inflation rate in the United States is expected to be 7.0% by the end of this quarter, according to Trading Economics’ global macro models and analysts’ expectations. In the long term, the U.S. inflation rate is projected to trend around 1.9% in 2023.
Biden did this, when he reversed Trump's energy independent policies to line his and other pockets. Thank you and enjoy democrats.🤡
PAY ATTENTION- 'US exports even more oil as domestic gasoline and diesel prices spike' 'January-May crude exports at all-time high; refined products exports back to pre-COVID levels' U.S. crude exports to Europe to rise. Crude flows to Europe have definitely picked up. google it
Nonsense. The Fed f'd up and waited too long to act. They didn't want to constrain the economy coming out of covid but they thought the inflation was transitory. It wasn't. Do you really trust them now? Covid stimulus isn't the only reason. They now have to raise rates higher.