Bidenflation Bites Again

The consumer price index, a key measure of inflation, rose 0.4% last month, more than expected. Inflation now stands at 3.5%.

While 0.4% might not seem like much, it would be 4.8% for the year if it continues rising at that pace, far from the Federal Reserve’s 2% target.

The Biden White House and its left-wing media allies will try to gaslight you into believing that the economy is really great. It’s not. And this is a really big deal.

For months now, all the financial markets have been anticipating that the Federal Reserve will lower its key interest rate in response to improving inflation numbers.  Lower rates would stimulate the economy, including the critical housing market, and make it cheaper to finance our debt.

But as Biden continues to spend like a drunken sailor (apologies to drunken sailors), inflation isn’t improving. It’s getting worse. And expectations of lower interest rates are fading fast.

Today’s higher inflation figure raises the very real possibility that inflation is not yet under control. We’ve now had three months in a row of higher-than-expected inflation. Many people will likely conclude that there won’t be any Federal Reserve interest rate cuts at all this year.