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A recent research paper by four noted economists, including Larry Summers, the former Treasury Secretary under Barack Obama and former Harvard President, discovered that the real inflation rate during the Biden years, using pre-1983 calculations reached 18% in 2022. The number is the highest inflation rate the country has seen in over 50 years. This research project was published by these four authors at the nonpartisan National Bureau of Economic Research in late February and is just now making waves. Marijn A. Bolhuis is an economist in the Macro Policy division of the International Monetary Fund’s Strategy, Policy, and Review...

The New York Times economics parody writer Pauk Krugman — because that’s all he’s been reduced to now — can’t seem to avoid sleepwalking his way into huge, unforced errors. In another Apr. 9 column praising President Joe Biden’s alleged “Goldilocks” economy, Krugman was adamant that “while there was a wave of inflation, it seems to have broken.” Yes, Krugman wrote this just a day before the Bureau of Labor Statistics released its Apr. 10 report showing that consumer prices spiked hotter than expected at 3.5 percent year-over-year and 0.4 percent month-over-month. CNBC analyzed that core consumer prices (excluding food...

On Wednesday, the government put out disappointing inflation statistics that show that inflation has accelerated to four-tenths of a percent last month. But that number seems unrealistically low to me. In the numbers, bureaucrats claimed that gasoline prices only went up 1.7% last month, which would be only five cents per gallon. On the New York mercantile exchange, gasoline has risen from around $2.10 per gallon in early January to around $2.75 on March 31st; that is up 30% in three months. Crude oil has risen from around $72 at the end of the year, to $83 at the end...

Reporting from Western New York: gas price at my local gas station jumped $0.13 in the last 24 hours. I've never seen a hike that fast. Is anyone else seeing the same thing? I already see gold prices shooting up. Is this gas price? Starting to catch up to it now?

Shut out the Democrat noise and stop believing the mainstream media narrative. Multiple polls and data sets have emphasized that abortion is not one of the top issues for most voters in the upcoming 2024 election, not by a long shot. Democrats are distracting from other issues by going hysterical about abortion. The Democrats have so successfully screeched their heads off about abortion that even many Republicans now think that a significant percentage of voters will have abortion at the forefront of their minds in November. This is simply not true. Not only is there absolutely no moral justification for...

Delinquency rates among American credit card holders are at an all-time high, while at the same time a record number of “active accounts” have “a balance of over $2,000,” according to a Federal Reserve Bank of Philadelphia report. We’re more than three years into the Biden presidency, so we all know where the blame lies. More from Bloomberg: Almost 3.5% of card balances were at least 30 days past due as of the end of December, the Philadelphia Fed said. That’s the highest figure in the data series going back to 2012, and up by about 30 basis points from...

“The office district is empty, with boarded up towers, copper thieves, and failing retail,” reports the Wall Street Journal of Democrat-run St. Louis, Missouri. “[E]ven the Panera outlet shut down. The city is desperately trying to reverse the ‘doom loop.’” Let’s look at the mayoral history of the doom-looping St. Louis, shall we? Oh, look, there hasn’t been a Republican mayor in St. Louis since — not a typo — 1949. For 75 years, the people of St. Louis have voted for More of the Same, so excuse me if I don’t whip out a violin over all this unavoidable...

Influential investor says US inflation and growth are not at levels where interest rates can fall Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/680c17d1-0d55-4697-aff8-7dcca8c06679?accessToken=zwAGFb2KHEZYkc9oDBfRDVVGl9Ov-H3MqMBmeQ.MEUCIEKUOo8tpYNQH1TIRs1UXW0onmSrH2MkZ28gZyBrU5T-AiEAledOG31n_SXP-FsEVXres7m4-IDthSiN4Xyky3Mv9yQ&sharetype=gift&token=c10df47e-f8fc-4ea2-a059-1720789b4224 Persistent inflation and hot US growth have left the Federal Reserve’s rate-cutting hopes “off track”, Bridgewater’s Bob Prince said on Tuesday, adding...

Funky cold Joe Biden is his reaction to inflation caused by his outragous spending. His legion of sycophants are now saying inflation is a good thing or don’t notice it. But Biden will never stop spending . Coming into today’s CPI number, which followed three previous red-hot inflation prints, we said that it’s time for a “miss” (the first of 2024) not because the data demands it – on the contrary, prices continue to rise at a frightening pace – but because a dovish CPI print today would be the last opportunity for the Fed to set a timetable for...

Economic data across multiple metrics is coming in hot, showing the strength of the U.S. economy and the persistence of inflation in the last mile of its descent down to the Federal Reserve’s target rate of 2 percent. A March uptick in the consumer price index (CPI) to an annual 3.5-percent increase could push interest rate cuts back from their predicted start date in June. The CME FedWatch forecasting algorithm put the probability of a June cut at just 21 percent Wednesday morning. The algorithm has higher odds for a cut than a pause at the rate’s current range of...

Jamie Dimon, the CEO of JPMorgan Chase, issued a sober warning for the U.S. economy in his annual letter to investors this week. Dimon pointed to wars breaking out in Europe, the Middle East, and growing tensions with China as major drivers to economic uncertainty which have helped fuel “higher energy and food prices, inflation rates and volatile markets.” The crises on the foreign policy front are largely a reflection of President Joe Biden’s weakness on the world stage as America’s adversaries have felt that they have more latitude in what they are able to get away with under the...

President Biden was at it again Tuesday, telling tall tales and shouting gibberish. He was speaking at Union Station in Washington, D.C. on the care economy—described by the United Nations as including “paid (employed in the formal and informal sectors) and unpaid work through which care is provided for others”—when he was interrupted by a heckler. The president angrily responded, “Well, I’ll tell you what…you wanna come make a speech or shush up, okay?” Then he took a look at the protester and thought better of it because, evidently, the guy looked tough. “I’m not messing around with him!” Biden...

Friday’s jobs report has everyone excited. Everyone, that is, who is pulling for Joe Biden to win reelection. Outside that blinkered lot, the pain of Bidenomics is still very real. “Today’s report marks a milestone in America’s comeback,” he said. “Three years ago, I inherited an economy on the brink” – a lie we’ve repeatedly exposed – “With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office” – another lie; as we noted last week, the economy has created only 5 million net new jobs under Biden,...

During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen responded to a question on whether she is confident that inflation will hit the target rate of 2% by stating that she expects that inflation “will continue to come down over time.” And “we can certainly get into the twos.” Yellen also stated that “we’ve had generally good news on inflation.” CNBC host Sara Eisen asked, “You’re still confident we can get to 2% this year? We’ve seen a little bit of a flare-up so far this year.”

During an interview with CNBC released on Monday, Treasury Secretary Janet Yellen said that “Some low-income consumers are perhaps exhausting their buffers of saving[s] that they built up during the pandemic, we’re seeing a little bit more distress at the household level there.” But despite that, “we’ve got a good, strong economy” with “very strong domestic demand” that is “on a solid track” and “generally, households are in very good financial shape.” CNBC host Sara Eisen said, “I guess I’m just wondering if the economy continues to hold up, no matter what happens on the Fed.”

NEW YORK CITY, NEW YORK: Pete Buttigieg took to X (formerly Twitter) to praise President Joe Biden for improving the economy while acknowledging that more work remained, on Sunday, April 7. The Transportation Secretary shared a clip from his interview on MSNBC, where he spoke on the subject, netizens, however, are unconvinced by his statements. In the clip posted by Pete Buttigieg, he is seen telling the interviewer, "I think it's important to recognize where people are at. Two, the country has been through a lot, (and) families have been through a lot. And just because a number on a...

Nathan Frederiksen is doing pretty well for himself. He turns 40 this year and is on track to retire by 60. It takes some sacrifice — he drives the “unsexiest car ever,” takes a DIY approach to home repairs and doesn’t eat out much — but he’s able to save 10% of his income for retirement and maintain an emergency savings fund while supporting his wife and four children in the suburbs of Boise, Idaho. “I understand that I’ve been lucky with some of my job prospects, but I don’t make a crazy amount of money,” he told CNN. “I...

Economists are expressing concern over the increasing number of illegal immigrants in the United States, who they believe are obscuring the actual condition of the jobs market and the U.S. economy.etty Images)For the last few years, the headline employment figure has been impressive. The country has recovered the lost jobs from the government-imposed shutdowns during the pandemic and added a few million more, despite a climate of high inflation and rising interest rates.In 2023, the economy added approximately 3 million new positions. To kick off 2024, more than 800,000 new jobs have been added.The labor market data is critical as...

"I didn't buy groceries last pay period" "You know why?" "I currently am being charged over $200 a month, for a CARBON TAX" "There's an extra $40 on my gas bill and $187 extra on my hydro bill" "Canadians are suffering" "I fill my SUV to go to work and it used to cost me $71. Now it costs me $98" "It shouldn't have to be this way" "It's sad" "I work full time" https://media2.giphy.com/media/3oEjI8Kq5HhZLCrqBW/giphy.gif

We are living in the USA where corruption, favoritism, open borders and an out-of-control Federal budget and debt are destroying this once great nation. Former Kansas City Fed President Thomas M. Hoenig was absolutely right when he said recently that The Federal Reserve panders to Wall Street, Congress and special interest groups, prioritizing immediate relief over financial stability. Bernanke’s zero-interest rate policies (ZIRP) and Quantitative Easing (QE) were short-term fixes that never went away. Indeed, since the subprime mortgage crisis of 2008-2009, US Dollar purchasing power is DOWN -32% and M2 Money is up a staggering 177%. While Yellen stuck...