US News
US consumer prices post biggest rise in nearly 40 years; inflation close to peaking

The high cost of living, the result of snarled supply chains because of the COVID-19 pandemic, is a political nightmare for President Joe Biden.

US consumer prices increased solidly in December as rental accommodation and used cars maintained their strong gains, culminating in the largest annual rise in inflation in nearly four decades, which bolstered expectations that the Federal Reserve will start raising interest rates as early as March.

The report from the Labor Department on Wednesday followed on the heels of data last Friday showing that the labor market was at or near maximum employment.

Fed Chair Jerome Powell on Tuesday said the US central bank stood ready to do what was necessary to keep high inflation from becoming "entrenched," in testimony during his nomination hearing before the Senate Banking Committee for a second four-year term as head of the bank.

The high cost of living, the result of snarled supply chains because of the COVID-19 pandemic, is a political nightmare for President Joe Biden, whose approval rating has taken a hit.

"The Fed is going to be forced to begin raising rates in March and depending on the political pressure on them – from both sides of the aisle – they are going to have to raise rates four or more times in this year and potentially more than that next year," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina.

# Biden Administration # US News # Economy
francis brown 13:34 13.01.2022
By the way our economy’s doing very good consideringwhat we are all going through. Learn to have a positive out look get behind your President Joe like real Americans do after the election is done .
francis brown 13:29 13.01.2022
We real Americans elected Joe fair and square.trump a cry babylooser with a shitty diaper go change your babies diaper!
francis brown 13:24 13.01.2022
Pamela who are you?present facts facts !open your mind !you are promoting a hater of America.who lied to us thousands of times . Got rich by cheating
francis brown 13:20 13.01.2022
Trump did foolishly blow up germ and chemical warfare depots in Syria .then COVID-19 struck the world!think right !trump is a fool!
francis brown 13:16 13.01.2022
Get with the reality the brat trump and his brat family is doomed , in court. Joe Biden has done more in one year then the insurrectionist did in four years
Glenn Amburgy 13:16 13.01.2022
Imagine Israel becomes a nation again as prophecy told us and what we see world wide is causing more prophecy to be fulfilled. Behold last minutes of the last days before the Messiah comes!
francis brown 13:13 13.01.2022
Please stop supporting the insurrectionist trump. Who will soon be in prison. Who ever you are stop it now .trump is history he Is a scumbag pervert liar cheat . I am in the 80%of America’s vs trump
12:35 13.01.2022
The Elites are controlling the narratives. The New Normal and the Great Reset.
Pamela Lovejoy 09:12 13.01.2022
We need alot of prayers 🙏.
Pamela Lovejoy 09:10 13.01.2022
This situation is effecting the whole world 🌎. Enough is enough. Ya wonder what is next for the American people?
Pamela Lovejoy 09:07 13.01.2022
We got a socialist for a president.
Pamela Lovejoy 09:06 13.01.2022
How are we suppose to deal with this situation? Biden does not care about us? Other countries are laughing at us. They wonder how did the American people elected him ?
Pamela Lovejoy 09:01 13.01.2022
I have never seen such a thing like this ever before? Since Biden been in office everything is so messed up. He's out to crumble the American people. Our economy is terrible.
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