Inflation Biden's fault?

Everett WA

Description

Have you been trying to lose weight. Food prices are on the rise. Gas prices are on the rise. Wood prices are skyrocketing. The U.S. dollar is shrinking. Its called INFLATION! The democrats try and sugar coat it by saying the economy is boosted because the country is reopening up. What is our savior Biden doing, nothing as usual. How come the media is not pointing fingers at Biden? Remember how they would point fingers at Trump for anything they could. The democrats will start handing out more free money (a band aid) and tell us not to worry. It took only six months for Biden to destroy the economy. His next big solution will be to start a war. Now are you happy that you voted for Biden? Economists’ inflation expectations keep rising as a variety of key metrics underscore building price pressures. One farmer said they were paying six dollars for a wooden crate last year and now the same crate is selling for forty dollars. He has to raise the price on produce to cover his profit margin. I would not want to be having a home built right now with wood. This explains why property values are on the rise. It is not uncommon to see a home rise by 70 to 100 thousand in the last year. Forecasters raised their estimates for the consumer price index and for a key inflation gauge favored by the Federal Reserve, known as the personal consumption expenditures price index, every quarter through the first half of next year, according to the latest monthly survey of economists by Bloomberg. Compared to a year earlier, the CPI is now forecast to remain above 3% through March 2022, peaking at a 4.3% year-over-year gain in the current quarter, according to the median forecast in a June 4-9 survey of 77 economists. Data out Thursday showed the gauge rose more than expected for a third straight month. The PCE price index is expected to rise 3.5% in the April to June period, up from the 3% estimate in the May survey and well above the Fed’s 2% goal. While rising fuel prices may in part help explain the upgrades to inflation, metrics excluding food and energy are also being adjusted higher. Faced with a surge in demand, supply bottlenecks and rising input costs, many businesses have raised their prices to protect their profit margins. Whether those increases will lead to a more persistent inflationary trend has divided economists and market participants. “Supply capacity should eventually catch up, but this could take time with the risk that we see more elevated inflation readings for longer than we have experienced at any point in the past 20 years,” said James Knightley, chief international economist at ING.