{"id":14542,"date":"2021-11-20T18:54:06","date_gmt":"2021-11-20T18:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/inflation-in-the-news-driven-by-rich-people-media-pundits-claim-inflation-is-good-as-americans-struggle-with-less-purchasing-power\/"},"modified":"2021-11-20T18:54:06","modified_gmt":"2021-11-20T18:54:06","slug":"inflation-in-the-news-driven-by-rich-people-media-pundits-claim-inflation-is-good-as-americans-struggle-with-less-purchasing-power","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/inflation-in-the-news-driven-by-rich-people-media-pundits-claim-inflation-is-good-as-americans-struggle-with-less-purchasing-power\/","title":{"rendered":"\u2018Inflation in the News Driven by Rich People\u2019 \u2014 Media Pundits Claim \u2018Inflation Is Good\u2019 as Americans Struggle With Less Purchasing Power"},"content":{"rendered":"

Inflation in the U.S. has a large number of Americans worried about the future of their purchasing power as the cost of goods and services has continued to rise faster every month. Reports note that Americans are struggling to pay for child care, groceries, gasoline, lumber, healthcare supplies, and used vehicles. On Friday, Harvard economist Kenneth Rogoff told the press U.S. inflation was \u201ceye popping\u201d and in terms of where inflation is headed, Rogoff stressed he thinks \u201cwe\u2019re on a knife-edge.\u201d<\/strong><\/p>\n

Members of the US Central Bank Begin to Favor Tapering Asset Purchases \u2014 Taper Discussions to Likely Happen at Fed\u2019s December Meeting<\/h2>\n

On Friday, Reuters reported<\/a> that the U.S. central bank\u2019s policymakers are publicly debating whether or not the Federal Reserve will taper bond purchases and raise the benchmark interest rate. Fed Governor Christopher Waller told the press on Friday that the tapering should begin soon. \u201cThe rapid improvement in the labor market and the deteriorating inflation data have pushed me towards favoring a faster pace of tapering and a more rapid removal of accommodation in 2022,\u201d Waller explained in New York.<\/p>\n

The central bank\u2019s vice chair, Richard Clarida, also spoke about tapering on Friday at the San Francisco Fed\u2019s 2021 Asia Economic Policy Conference. \u201cI\u2019ll be looking closely at the data that we get between now and the December meeting, and it may well be appropriate at that meeting to have a discussion about increasing the pace at which we are reducing our balance sheet,\u201d Clarida stressed. \u201cThat will be something to consider at the next meeting,\u201d he added.<\/p>\n

US Dollar\u2019s Purchasing Power Declines<\/h2>\n

The rising inflation has taken place in America following the U.S. government\u2019s attempt to mitigate the Covid-19 pandemic with lockdown mandates, shutting down small businesses, and choking the supply chain with coronavirus safety measures. Additionally, the government and Federal Reserve increased America\u2019s monetary supply more so in two years than in the country\u2019s 242 years prior.<\/p>\n<\/p>\n

The U.S. dollar doesn\u2019t go as far anymore, as the cost of beef, hotel and motel accommodations, gasoline, laundry supplies, natural gas, eggs, vehicle rentals, furniture, and used cars has skyrocketed over the last 12 months<\/a>. Metrics from visualcapitalist.com indicate that the U.S. inflation rate saw the largest increase in 30 years. Moreover, the cost of fuel, transportation, and meat products have seen the largest price jump, rising from 24% to 39% in just a year.<\/p>\n

Childcare and other costs associated with parenting are also surging<\/a> and bars and restaurants are wrestling with inflation<\/a>, a labor crisis, and supply chain crunch all at the same time. Across the nation, prices have risen the highest<\/a> in the Midwest and South in states like South Dakota, North Dakota, Nebraska, Iowa, Kansas, and Minnesota.<\/p>\n

Mainstream Media Continues to Claim Inflation Is Good, Journalist Insists \u2018Inflation in the News Driven by the Rich,\u2019 MSNBC Deletes Tweet That Asserts \u2018Inflation We\u2019re Seeing Now Is a Good Thing\u2019<\/h2>\n

Despite the rising inflation, mainstream media (MSM) headlines<\/a> have been telling the public things like \u201cdon\u2019t worry about inflation\u201d for months. The New York Times tried to explain<\/a> this week that inflation \u201cis linked to the economic recovery\u201d and recently MSNBC deleted tweets<\/a> that claimed, \u201cthe inflation we\u2019re seeing now is a good thing.\u201d<\/p>\n

The American journalist who worked for the New York Times, Verge, and Vice Media, Sarah Jeong, has received a lot of backlash for her statements about inflation.<\/p>\n

\u201cWaaaaah the working class\u2019s income is keeping pace with or outstripping inflation but my capital gains aren\u2019t. Boo f***ing hooooo,\u201d Jeong told<\/a> her 118,000 Twitter followers. In another controversial statement, Jeong tweeted<\/a>: \u201cAll the stuff you see about inflation in the news is driven by rich people flipping their sh** because their parasitic assets aren\u2019t doing as well as they\u2019d like and they\u2019re scared that unemployment benefits + stimmy checks + 15 minimum wage + labor shortage is why.\u201d<\/p>\n<\/p>\n

Harvard Economist: In Terms of Where Inflation Is Going \u2018I Think We\u2019re on a Knife-Edge\u2019<\/h2>\n

Americans spending more dollars on goods and services has taken a toll on people\u2019s funds and data shows that the so-called rising wages in America don\u2019t seem to be measuring up to the inflation. There have been many reports<\/a> presenting verifiable data<\/a> showing that the rise in American wages does not make up for the rising inflation.<\/p>\n

On Friday, Harvard economist Kenneth Rogoff spoke on the broadcast \u201cMornings with Maria\u201d and the economist explained<\/a> that America\u2019s inflation is \u201ceye-popping.\u201d The former IMF chief economist told Maria Bartiromo that he thinks \u201cwe\u2019re on a knife-edge\u201d in terms of inflation and there\u2019s a \u201c50-50 chance or a little less\u201d the Fed\u2019s \u201ctransitory\u201d prediction is correct.<\/p>\n

\u201cI think it\u2019s pretty clear that the first stimulus right after Biden took office and maybe the one at the end of the year in 2020 [was] a little too late in the game,\u201d Rogoff explained in his interview. \u201cThey have added to the inflation, along with supply chain and everything else,\u201d he added.<\/p>\n

What do you think about America\u2019s rising inflation and how politicians, Federal Reserve policymakers, and mainstream media pundits are coping with the data? Do you think inflation will be \u201ctransitory\u201d or do you think it will last a very long time? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nEconomics, American journalist, beef prices, Childcare, Christopher Waller, economics, expenses, Fed, Fed Governor, Federal Reserve, Food, Gas, Harvard Economist, headlines, inflation, Kenneth Rogoff, Kenneth Rogoff inflation, Lumber, Mainstream media, mainstream media (MSM), Maria Bartiromo, Media pundits, Purchasing Power, Richard Clarida, Rising Inflation, Sarah Jeong, travel<\/p>\n","protected":false},"excerpt":{"rendered":"

Inflation in the U.S. has a large number of Americans worried about the future of their purchasing power as the cost of goods and services has continued to rise faster every month. Reports note that Americans are struggling to pay for child care, groceries, gasoline, lumber, healthcare supplies, and used vehicles. On Friday, Harvard economist…<\/p>\n","protected":false},"author":0,"featured_media":14543,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14542"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14542"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14543"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}