Inflation Archives

Georgia Governor Declares ‘State of Emergency’ over Inflation, Blames ‘Bidenomics’

Georgia's Republican Governor Brian Kemp has declared a "state of emergency" over high inflation in the state. Kemp announced that he would be temporarily suspending the state’s gas tax in an effort to ease the burden on drivers. The tax suspension started on Wednesday and will last until October 12.…

Inflation Woes Intensify as Saudi Arabia Slashes Oil Output

America's inflation woes are likely to intensify further after Saudi Arabia revealed in a surprise announcement that it is slashing oil output. On Sunday, the Saudis announced that the country is rolling out voluntary cuts to the Kingdom's oil production. Russia and other OPEC+ oil producers are joining Saudi Arabia…

Warren Buffett Warns America ‘Deficits Have Consequences’

Investment mogul Warren Buffett has issued a warning about “runaway inflation” from the consequences of fiscal deficits over the last decade. In his annual letter (pdf) to Berkshire Hathaway shareholders, Buffett touted his confidence in the U.S. economy. However, he also warned that "deficits have consequences." Buffett, 92, encouraged investors…

Eurozone’s Core Inflation Soars to Record High

The Eurozone's core inflation soared to a record high in January, as the bloc’s energy crisis rages on. The euro bloc is currently facing the worst energy crisis in decades after the Russia–Ukraine war caused gas and oil prices to soar. Last month, Europe’s consumer price index showed inflation in…

FOMC Members Warned of ‘Uncertainties’ in Inflation Outlooks, Raised Recession Odds, Minutes Reveal

Federal Open Market Committee (FOMC) members are quietly raising concerns about a long, drawn-out recession, recent minutes have revealed. Minutes from the latest FOMC policy meeting show that the policy-making arm of the central bank believes the odds of a recession occurring in 2023 are higher. While inflation is moderating…

Used Car Prices Soar with Largest Spike in 14 Years

Used car prices have soared, recording the largest February increase in 14 years, according to reports. The spike in prices comes as inflation continues to drive consumer prices. Wholesale used-vehicle prices increased 4.1 percent from January through the first half of this month, signifying the largest February increase since 2009’s…

Rapper Cardi B Reaches Limit with Inflation: ‘I Could Only Imagine What Middle-Class People Thinking’

Rapper Cardi B has reached her limit with rising inflation in Biden's America. She took to social media to tell the people in charge to bring the prices down. The music star noted that, if it is hurting her, it must be crushing "middle-class people or people in the hood."…

Businesses Are ‘Extremely Cautious’ Heading into New Year

American businesses are remaining "extremely cautious" as they head into the new year as recession fears continue to weigh heavy for 2023. One of the most hotly debated topics of 2022 has been the question of whether or not the U.S. economy is in recession. Yet corporate America is bracing…

Ex-Treasury Secretary: Recession Is Coming and It Won’t Be Mild

Larry Summers, who served as Bill Clinton's Treasury Secretary and Barack Obama's National Economic Council advisor, has warned that a recession is coming and that it will not be a mild one. Speaking during an interview with MSNBC on Thursday, Summers said that the Federal Reserve will have to face…

American Consumers’ Sentiment on Economy Plummets, New Survey Shows

Sentiment regarding the U.S. economy is plummeting among American consumers, a new survey has revealed. Consumer sentiment fell this month, despite upwardly revised figures, according to the University of Michigan. In a newly released survey, the consumer sentiment index for November had deteriorated less than expected and was revised to…