‘Inflation within the Information Pushed by Wealthy Folks’ — Media Pundits Declare ‘Inflation Is Good’ as Individuals Battle With Much less Buying Energy – Economics Bitcoin Information

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Inflation in the US worries many Americans about the future of their purchasing power as the cost of goods and services increases faster each month. Americans are reportedly struggling to pay for childcare, groceries, gasoline, lumber, medical supplies, and used vehicles. On Friday, Harvard economist Kenneth Rogoff told the press that US inflation was “noticeable” and on the direction of inflation, Rogoff said he thought “we are on a knife’s edge”.

Fed members begin to cut asset purchases – talks on the cut are likely to take place at the Fed meeting in December

On Friday, Reuters reported that US Federal Reserve policymakers are publicly debating whether the Federal Reserve will curb bond purchases and raise interest rates. Fed Governor Christopher Waller told the press on Friday that the cut should begin soon. “The rapid improvement in the job market and worsening inflation data have led me to prefer a faster reduction and dismantling of accommodations in 2022,” Waller said in New York.

Federal Reserve policymakers plan to discuss reducing large asset purchases in December amid rising inflation.

Central bank vice chairman Richard Clarida spoke about tapering at the Fed’s Asia Conference 2021 in San Francisco on Friday. “I’m going to look closely at the data we get between now and the December meeting, and it might be appropriate to have a discussion at this meeting about how we can reduce our balance sheet faster,” said Clarida. “That will have to be considered at the next meeting,” he added.

Purchasing power of the US dollar is falling

Soaring inflation came in America after the U.S. government tried to contain the Covid-19 pandemic through lockdown mandates, shut down small businesses, and choke the supply chain with coronavirus security measures. In addition, the government and the US Federal Reserve increased America’s money supply more in two years than in the previous 242 years.

The US dollar is not going that far as 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. Metrics from visualcapitalist.com show that the US inflation rate has seen its largest increase in 30 years. In addition, the cost of fuel, transportation and meat products have seen the biggest jump in prices, rising from 24% to 39% in just one year.

Childcare and other parenting costs are also rising, and bars and restaurants are grappling with inflation, a labor crisis, and a supply chain crisis at the same time. Across the country, prices have risen the fastest in the Midwest and South in states like South Dakota, North Dakota, Nebraska, Iowa, Kansas, and Minnesota.

Mainstream media continues to claim inflation is good, journalist insists that inflation on the news is being driven by the rich, MSNBC deletes tweet claiming the inflation we are seeing now is a good thing

Despite rising inflation, mainstream media (MSM) headlines have been telling the public things like “don’t worry about inflation” for months. The New York Times tried to explain this week that inflation “is related to the economic recovery,” and recently MSNBC deleted tweets claiming, “The inflation we are seeing now is a good thing”.

MSNBC deleted a tweet claiming inflation is a “good thing”. The deleted tweet was archived in the Wayback Machine (archive.org) before it was deleted.

American journalist Sarah Jeong, who worked for the New York Times, Verge, and Vice Media, has received a lot of backlash for her statements on inflation.

“Waaaaah, working class incomes are keeping up or exceeding inflation, but my capital gains are not. Boo f *** ing hoooooo, “Jeong told her 118,000 Twitter followers. In another controversial statement, Jeong tweeted, “Everything you see on the news about inflation is being driven by rich people who turn their shit around because their parasitic assets aren’t doing as well as they’d like and they are scared Before that, unemployment benefits + checks + 15 minimum wage + labor shortage is the reason. “

Harvard economist: “I think we are on the brink” on the development of inflation

Americans spending more dollars on goods and services have strained people’s funds, and data shows that so-called rising wages in America are not keeping up with inflation. There are many reports with verifiable data showing that rising American wages are not offsetting rising inflation.

On Friday, Harvard economist Kenneth Rogoff spoke on the program “Mornings with Maria” and the economist stated that America’s inflation was “noticeable”. The former chief economist at the IMF told Maria Bartiromo that he believed “we are on a knife’s edge when it comes to inflation” and that the Fed’s “temporary” forecast of a “50-50 chance or a little less” is correct.

“I think it’s pretty clear that the first stimulus was right after Biden took office, and maybe at the end of 2020 [was] a little too late in the game, ”explained Rogoff in his interview. “They contributed to inflation, along with the supply chain and everything else,” he added.

Tags in this story

American Journalist, Beef Prices, Child Care, Christopher Waller, Economy, Spending, Fed, Fed Governor, Federal Reserve, Food, Gas, Harvard Economist, Headlines, Inflation, Kenneth Rogoff, Kenneth Rogoff Inflation, Wood, Mainstream Media, Mainstream Media (MSM), Maria Bartiromo, media experts, purchasing power, Richard Clarida, Rising Inflation, Sarah Jeong, travel

What do you think of America’s rising inflation and how politicians, Federal Reserve politicians, and mainstream media experts are handling the data? Do you think inflation will be “temporary” or do you think it will last for a very long time? Let us know what you think on this matter in the comments below.

Photo credit: Shutterstock, Pixabay, Wiki Commons, The Intercept, Archive.org, visualcapitalist.com,

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