Biden warns US inflation could last 'for a while' - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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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Source: dailymaverick - 🏆 3. / 84 Read more »