Staff Reports
Great news, folks! The latest Consumer Price Index (CPI) report for June shows that inflation has eased to a mere 3 percent year over year. Now, I know what you’re thinking, “Only 3 percent? That’s still pretty high!” And you’re absolutely right! This is yet another example of the disastrous economic policies of the Biden administration.
Inflation Eased to 3 Percent in June, but More Rate Hikes Could Be Coming https://t.co/86eRpsZwvo
— RedState (@RedState) July 12, 2023
Sure, the report does indicate a slowdown in inflation, but let’s not forget that it’s still above the Federal Reserve’s target of 2 percent. That means more interest rate hikes could be on the horizon! It’s like the Biden administration is playing a never-ending game of “How high can we make the interest rates go?” Well, let me tell you, folks, this game isn’t fun for hardworking Americans who are already struggling to make ends meet.
But wait, it gets even better. The Wall Street economists, those so-called experts, were actually predicting even higher inflation numbers. Can you believe it? They estimated that consumer prices would rise 3.1 percent in June. It just goes to show you that these economists are about as accurate as a blindfolded dart thrower. Maybe they should spend less time crunching numbers and more time listening to the American people.
Now, let’s talk about the core CPI numbers, which exclude volatile food and energy prices. These numbers showed inflation up 4.8 percent year over year and 0.2 percent from the previous month. Clearly, the Biden administration’s attempts to curb inflation are failing miserably. Even with falling energy costs, prices are still on the rise. It’s like trying to put out a forest fire with a water gun.
And what about the Federal Reserve? They took a break from raising interest rates in June, but don’t get too comfortable. Most board members have already signaled that they expect at least two more rate hikes this year. That’s right, folks, brace yourselves for even higher interest rates. It’s like the Biden administration wants to make it even harder for Americans to achieve the American dream.
But hey, maybe there’s a glimmer of hope. The positive movement in the inflation numbers may give the Fed a reason to skip another rate hike. Who knows, maybe they’ll take pity on us hardworking Americans and give us a break. But let’s not hold our breath, folks. The Biden administration has made it clear that their primary focus is to get inflation at or below 2 percent, no matter the consequences for the average American.
So, what can we expect moving forward? Well, economists have been warning about a looming recession, and while the economy has proven to be resilient for now, the threat of a recession is still very real. If the Biden administration doesn’t change course soon, we could be facing a major economic crisis by the end of this year or the beginning of 2024. And who will be left to pick up the pieces? That’s right, the hardworking American taxpayers.
As conservatives, we need to stay engaged and informed about the disastrous economic policies of the Biden administration. We can’t afford to be complacent while our economy crumbles. So, let’s keep fighting for lower taxes, less government regulation, and economic policies that actually benefit hardworking Americans. Our future depends on it.
This article was written by Joe Cunningham, a Senior Editor at RedState and a former teacher and coach. He may not have all the answers, but at least he’s asking the right questions. So, keep tuning in to the Joe Cunningham Show for more conservative insight and analysis. Together, we can make a difference.
