US inflation soars to highest point in 40 years | DW News

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Newly released data from the US shows inflation rose there at the highest rate in almost 40 years - to 6.8 percent last month, compared to one year ago.
For months the Federal reserve has been saying it believes inflationary pressures in the US economy are temporary. But prices for goods, gasoline, used cars, rent and food have continued to climb - fueling concerns that high inflation rates are not going away.
What does the news mean for President Joe Biden and his approval rating?

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Test for Joe Bidden!?.. maybe a real life test for common people! 🙄

dancyano

inflation goes up, wages stay the same, and the rich have never been richer and the workers have never worked longer hours.

sheepwshotguns

Joe can do better...he can make it go even higher.

markanthony

ofcourse inflation is high when all you have to back up loan based economy is just empty air

thedarkdragon

Supply chain is only part of it. The US printing Trillions of dollars a year is also going to cause inflation. Currently the US spends 7 Trillion a year, while only making 4 Trillion. US spending is out of control and has been insane since around 2009 when the deficit went over 1 Trillion a year. Now they act like they gave up and aren't even trying to balance the budget and the deficit is currently 3 Trillion a year. This is not sustainable. But the USA will never be able to pay its debt at this point, so why not keep spending. No American politicians care what happens in 4 to 8 years when they leave office anyway.

BrettonFerguson

I hope we’re not relying on Biden’s grey matter to get us out of this.

jennyg

Yeah no. The inflation is here to stay and will continue to rise until Americans begin to panic. This is what happens when you print your currency over and over again. It's going to get worse.

JuwanBuchanan

Bearing in mind the amount of money every country has had to pump into their economy during the last couple of years of the pandemic (along with drastically reduced tax receipts) one of two things was inevitable: either interest rates increasing as countries compete in the bonds market for a limited supply of money or inflation increases as governments simply print more money.
My feeling is we will be seeing both before within the next year.

annoyingbstard

This year the federal reserve *chose* to stop inserting money into the economy anywhere near as much they had been for the last two decades. Like our politicians, they are in the pocket of large corporations who are obviously unhappy with the fact people are trying to unionize and searching for ways to make a comfortable wage, or even an actual living wage.

aylbdrmadison

This doesn’t surprise me, especially after the COVID lockdown last year. There have already been signs of this for awhile, hopefully people are waking up about this issue. My advise is if you have a steady job, try and invest and save as much as you can cause it’s going to get worse when it comes to the cost of living.

goldja

Corporate profits are also higher than ever. Is this all inflation or is profiteering also a factor?

HeatherSpoonheim

Come on, the Fed called it “transition”
The normal everyday American may disagreed

douglaswong

It's inflation caused by the central bank, (The Fed in this case) and their big banks, like Wells Fargo and Chase to name just two. Bernie Sanders wanted to break apart the banks, but America voted for another establishment politician.

gabemendoza

I say its time for a riot like seriously when are people gonna wake up this is really fkd up its not gonna go down anytime soon and wages arent near enough🤬🤬🤬this is gonna destroy so many families i can literally feel my heart breaking😢

jimmineycricket