Inflation continues to surge

 Washington Examiner:

...

Wednesday’s report comes just a day ahead of the even more closely watched consumer price index report. The CPI is seen by many to be the key barometer of headline inflation in the United States and September’s reading will be the last one before the midterm elections, upping the stakes for President Joe Biden and Democrats.

The consensus forecast is that headline inflation slowed two-tenths of a percentage point to 8.1% in September. Economists also expect, though, that “core inflation” (that is, inflation with the volatile categories of food and energy stripped out) accelerated two-tenths of a percentage point to 6.5%.

August’s inflation report featured prices clocking in higher than forecasters had expected, sending the markets into a spiral as fears grew that the Federal Reserve would have to keep aggressively hiking interest rates in order to drive down inflation.

...

While the interest rates are intended to bring down inflation they actually add to it if you are purchasing a home on a 30-year mortgage or are making a long-term business loan. 

See. also:

The Biden-Pelosi-Schumer deficits are a catastrophe

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