White House Ignores Inflation

Read more on this subject: Economy – Economics USA
News Story Source: https://www.armstrongeconomics.com/armstrongeconom
There are numerous variables contributing to this situation that are simply out of the Fed's control at this point. The personal consumption expenditure price index (PCE) rose 5.4% in March on an annual basis. That is the most significant leap since April of 1983. Headline PCE spiked 6.4%, the fastest pace since January 1982, as gas and food costs are on the rise.

Consumer spending, accounting for over two-thirds of US GDP, rose by a marginal 0.2%. The plan to destroy America to Build Back Better has caused significant damage to our economy. Visiting the White House website shows that our alleged leaders are still focusing on the agenda of Klaus Schwab rather than the people. In the listed priorities, COVID remains top on the list, followed by climate change. Only the policies surrounding both are harming America rather than the issues themselves. The third priority is racial equity, and down at number four is the economy.

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