Another dismal economic report under “Middle class” Joe Biden.
April’s inflation report is out and … it sucks. Core inflation (CPI less food and energy) remains elevated at 5.5% YoY, much higher than The Fed’s target rate of 2%. Even worse, US REAL average weekly wage growth is negative again at -1.1% YoY, negative growth for the 25th straight month.
Turns out that core inflation is higher than overall inflation. 4.9% YoY compared to core of 5.5% YoY.
Despite the hot core inflation report, Fed Funds Futures are pointing to declining rates over time.
While the US middle class is getting screwed, The Biden family are raking in millions …. from China.
Middle class Joe is now “Pay to play” Joe.
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