2021-05-17 15:03:07
WHITE HOUSE IS SILENT, BUT INFLATION AND REDUCED EMPLOYMENT ARE MORE WORRY OF POLITICS AND SOCIETY
The Hill reports:
Rising prices are putting increasing pressure on President Biden and the Federal Reserve to prevent inflation from disrupting recovery from the coronavirus-driven recession.
The surge in consumer demand fueled by government incentives, improved vaccinations and fewer pandemic restrictions is putting pressure on global supply chains. Manufacturers and other affected industries are struggling to get back to work after a year of restrictive measures, leading to supply shortages and higher costs.
All of these factors combined pushed the consumer price index (CPI) up 0.8 percent in April and 4.2 percent in the past 12 months, the fastest annual rate since 2008, the Labor Department said last week. Excluding the more volatile food and energy prices, the index recorded the largest monthly growth since 1982.
While rising consumer spending is a sign of heightened optimism, the Biden administration faces political risks as Americans face inflation rates the country has not seen in over a decade.
Apart from inflationary expectations, the White House still does not comment on the deteriorating statistics on US employment. This causes nervousness not only in financial markets, but also in political circles as well as in society.
I will add about myself. The Biden administration is behaving very strangely on a number of fronts. Including the economic one. A cry for green infrastructure and green jobs - in the future. And what today is not important. There are not even public statements about the operational planning horizon. As if everything has to happen by itself, by magic. Well, or the administration does not care what happens, because the electoral reform will still leave power behind them. All this looks very strange and alarming. Highly.
https://thehill.com/policy/finance/553671-inflation-fears-grow-for-white-house
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