Biden’s America: Inflation Now at Highest Level in Over 10 Years
Chaos amid supply chain disruptions and port congestion
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A key measure of the market’s inflation expectations has exploded amid concerns the Federal Reserve will not be able to bring rising prices back to its 2 percent target.
The gauge known at the 10-year break-even rate suggested that bond market investors expect the consumer-price index will soar by an annual average of 2.62 over the next decade, the highest since 2012.
The five-year break-even inflation jumped to 2.86, which is the highest since 2005.
There are now supply chain disruptions, port congestion, driver shortages, and labor shortages which are all contributing to the inflationary pressures.
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Last week, Buttigieg claimed the current supply chain crisis was because Joe Biden “successfully brought this economy out of the teeth of the recession."
“Remember, you can’t talk about supply without talking about demand. Part of the reason we are where we are is that the president successfully brought this economy out of the teeth of the recession, people are buying more than ever before."
Last week, Biden touted 'economic recovery' despite 4.3 million workers quitting their jobs, soaring inflation, and empty shelves.
Breitbart reported:
Corporate executives have been using their quarterly results presentations to discuss the impact of inflation on their businesses, with many warning of squeezed margins and the need to raise prices.
Executives have also stressed that they see no signs of inflation abating, although the rate of price increases is still expected to slow from the heights of this summer.
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Thursday's biggest-ever auction of TIPS, a $19 billion offering. The auction produced a record low yield of negative 1.685 percent. That was lower than pre-auction yields, which bond traders say is a sign that demand for the securities exceeded market expectations.
The Federal Reserve closely monitors break-evens alongside surveys of consumers and business executives to gauge inflation expectations.
Neon Nettle reported:
Over half of American voters say Democrat Joe Biden and his administration are to blame rising inflation in the crumbling economy, a new poll has revealed.
According to a Morning Consult/Politico poll of registered voters, the voting public believes the Biden admin's policies are responsible for America's struggling economy.
58 percent of voters are "very concerned" about inflation, and 31 percent are "somewhat concerned" about it, the survey found.
A prior survey conducted in July found that 39% of registered voters felt that the administration's policies were very responsible for the rising inflation and 20% viewed the administration's policies as somewhat responsible.
