make it 9 of 10 weeks of a falling stock market....and inflation still climbing
the Dow Jones Industrial Average plunged 750 points, or 2.3%, to 31,537 by 10 a.m. ET on Friday, while the S&P 500 fell 2.6% and the tech-heavy Nasdaq 3%.
Prompting a sudden plunge, the Labor Department reported early Friday that consumer prices rose at 8.6% in May—surpassing a record high 8.5% from March despite economist projections calling for a softer 8.3% increase.
the Dow Jones Industrial Average plunged 750 points, or 2.3%, to 31,537 by 10 a.m. ET on Friday, while the S&P 500 fell 2.6% and the tech-heavy Nasdaq 3%.
Prompting a sudden plunge, the Labor Department reported early Friday that consumer prices rose at 8.6% in May—surpassing a record high 8.5% from March despite economist projections calling for a softer 8.3% increase.
and I have to chuckle when the media uses words like "shocking" and "unexpectedly"
Overall prices rose 1% from April—surpassing the 0.7% economists were expecting and much higher than the previous month’s increase of 0.3%, according to data released by the Labor Department on Friday.
The unexpected jump marks the largest 12-month increase since the period ending December 1981, according to the release, and comes after prices in April fell on a monthly basis for the first time since August.
“So much for the idea that inflation has peaked," Bankrate Chief Financial Analyst Greg McBride said in emailed comments after the report, noting that increases were "nearly ubiquitous."
Inflation Unexpectedly Spiked 8.6% In May—Hitting 40-Year High As Gas Prices Surge Again
Overall prices rose 1% from April—surpassing the 0.7% economists were expecting and much higher than the previous month’s increase of 0.3%, according to data released by the Labor Department on Friday.
The unexpected jump marks the largest 12-month increase since the period ending December 1981, according to the release, and comes after prices in April fell on a monthly basis for the first time since August.
“So much for the idea that inflation has peaked," Bankrate Chief Financial Analyst Greg McBride said in emailed comments after the report, noting that increases were "nearly ubiquitous."
[ But we still have fucking retards on the left claiming economy is doing well... ]
https://www.foxnews.com/media/former-dem-senator-msnbc-biden-saved-economy-doing-bad
Former Democrat senator says Biden 'saved' the economy and that it’s ‘really not doing too bad at all’
Despite soaring prices, Doug Jones urged Biden to 'take credit for the good things' in the economy
https://www.foxnews.com/media/former-dem-senator-msnbc-biden-saved-economy-doing-bad
