Media gurus say inflation is good when Americans are grappling with falling purchasing powerInflation in the US worries people about their ability to buy in the future as the cost of goods and services increases faster each month. Americans are reportedly struggling to pay for babysitting, groceries, gasoline, medical supplies, and used cars. On Friday, Harvard University economist Kenneth Rogoff told the press that US inflation was at “painful” levels. When asked where inflation will go, Rogoff emphasized: “We are sitting on a fire”.
Media Federal Reserve members are beginning to campaign for fewer bond purchases
On Friday, Reuters news The US Federal Reserve‘s policy makers are openly debating whether the Federal Reserve should scale back its bond buying policy and raise its key interest rate. Fed Governor Christopher Waller told the press this will start soon.
“The rapid improvement in the labor market and declining inflation data have led me to move towards faster contraction and elimination by 2022.”
Central bank vice president Richard Clarida also spoke about the contraction on Friday at the Fed’s Asian Economic Policy Conference in San Francisco in 2021.
“I’m going to look closely at the data we get between now and the December meeting, and I will most likely discuss accelerating the decline in the balance sheet at this meeting. That will be discussed in the next meeting. “
The purchasing power of the US dollar is falling
Rising inflation in the US follows government efforts to take measures to limit the damage caused by the Covid-19 pandemic through social distancing orders, small business closings, and streamlining supply chains. In addition, the government and the Fed increased the US money supply more rapidly in two years than in the previous 242 years.
The cost of beef, hotel and motel accommodation, gasoline, laundry, natural gas, eggs, car rental, furniture and used cars have skyrocketed in the past 12 months. The figures show that the US inflation rate has risen the most in 30 years. In addition, the cost of fuel, transportation and meat products saw the largest price increase from 24% to 39% in just one year.
Childcare and other parenting-related costs are also skyrocketing, and bars and restaurants are grappling with inflation, a labor crisis, and the collapse of the supply chain. Nationally, price increases were highest in the Midwest and South in states like South Dakota, North Dakota, Nebraska, Iowa, Kansas, and Minnesota.
“Inflation On The News Driven By The Rich”
Despite rising inflation, the mainstream media (MSM) kept telling the public things like “don’t worry about inflation” for months. The New York Times tried explain This week, inflation is “linked to an economic recovery” and MSNBC recently deleted tweets claiming “the inflation we are seeing is a good thing”.
American journalist Sarah Jeong, who worked for the New York Times, The Verge, and Vice Media, has received a lot of backlash for her posts. specified about inflation.
“Working class incomes are catching or exceeding inflation, but my return on investment is not.”
In another controversial statement, Jeong was tweets:
“Everything you see about inflation on the news is driven by the rich because their wealth is not doing as well as they should and they fear unemployment benefits + stimulus checks + minimum wage 15 + lack of money. Labor shortages are the reason for that. “
“We feel like we’re sitting on a fire.”
Americans spending more dollars on goods and services has hit people’s money, and data shows that rising wages in the US are unlikely to keep pace with inflation. Many reports have been submitted data Verifiable evidence that US wage increases have not been enough to offset rising inflation.
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