Inflation hits 8.3% in August — worse than expected despite falling gas prices

The August reading of the Labor Department’s Consumer Price Index, a closely watched measure of the costs of goods and services, rose 0.1% compared to July — surprising economists who had expected a slight month-over-month decline.

Both Fed Chair Jerome Powell and other top officials at the central bank have made clear that they plan to continue with rate hikes until inflation begins to meaningfully recede. Prices are still well above the 2% range for inflation that policymakers deem acceptable. The latest inflation report will factor into the conversation as Fed officials meet on Sept. 20 and 21 to discuss their next interest rate hike.

The beatings shall continue until morale improves! Biden.

Biden destroying America

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Stock Futures Rise Ahead of Inflation DataU.S. stock futures inched higher ahead of fresh inflation data that could help determine the speed and pace of future interest-rate increases some people are getting richer because some other people are getting worried about having enough money for food We didn’t have inflation when Trump was in office
Source: WSJ - 🏆 98. / 63 Read more »