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Thursday, August 18, 2022

Breitbart Business Digest: Democrat Inflation Narrative Is Running Off the Rails

Sen. Elizabeth Warren, the Massachusetts Democrat, warned Federal Reserve Chairman Jerome Powell that his single-minded determination to bring down inflation might “drive the economy off a cliff.” Warren accused Powell and his fellow Federal Reserve officials of not tailoring their inflation solution to the specific problem of inflation. She had Powell confess that there is…

Breitbart Business Digest: Kellogg’s Is Dying of Wokeness

The Kellogg Company announced today that it was breaking itself up into three companies: a cereal business, a plant-based food business, and a snack business. It’s hard to think of a starker admission of corporate failure. The company’s shares basically sat out the great bull market that ended recently. Shares peaked in April of 2016…

Breitbart Business Digest: The Chip Shortage Saved Us from the Biden Bux Inflation Disaster

Our hats are off to whoever in the White House came up with the idea of sending people special debit cards for the purpose of buying gasoline. But not because this is a prudent policy. Quite the opposite. It is one of the looniest policy ideas that we have ever heard. Yet it perfectly exemplifies…

Breitbart Business Digest: Core Inflation Went from Bad to Worse in April

NICHOLAS KAMM/AFP via Getty Images The idea that we might be headed toward a “softish landing” was probably the great victim of the April report on the Consumer Price Index (CPI). Consumer prices were up another 0.3 percent in April for a higher than expected 8.3 percent annual gain. The official consensus had inflation slowing…

Gas Price Average Soars to Over $6 in California Counties

The national gas price average hit a new record high in the U.S. on Tuesday, with counties in blue California seeing average prices well over $6 per gallon. The national gas price average reached a record high Tuesday at $4.374 per gallon for regular gasoline, according to AAA. That reflects a 26 cent increase over…

Bidenflation Fuels Sharp Rise in Factory Orders

The strength of inflation pressures still gripping the U.S. economy was on display in the Commerce Department’s report Tuesday that orders for U.S. manufactured goods rose a sharp 2.2 percent in April. The jump in orders was much higher than expected. Economists had forecast a one percent rise. The big move shows that the appetite…

Massive Food Inflation: Farm Prices Up 31% as Eggs, Meat, Vegetables, Chickens, Dairy, Corn,...

The prices of U.S. farm products continued to rise in March, reflecting the inflationary pressures gripping the U.S. economy and fears that the war in Ukraine and sanctions and Russia could lead to food shortages around the globe. The Department of Agriculture said Friday that its index of prices received by U.S. farmers increased 6.3 percent…

Breitbart Business Digest: The Fed Still Believes in Immaculate Disinflation

The theory of immaculate disinflation remains intact. You’ll recall that “immaculate disinflation” is the phrase coined by Harvard economist Gabriel Chodorow-Reich to describe the Fed’s persistent belief that it can bring down inflation painlessly. The Federal Reserve released the minutes of the March meeting of the Federal Open Market Committee, the gang that sets interest rate policies…

Construction Spending Struggled to Keep Up With Bidenflation in December

U.S. construction spending increased less than expected in December as prices of construction inputs soared. The Commerce Department said on Tuesday that construction spending rose 0.2 percent after advancing an upwardly revised 0.6 percent in November. The earlier report for November showed just a 0.4 percent gain. Economists polled by Reuters had forecast construction spending…

Poll: Economy Still Top Priority, While Inflation Worries Rise and Covid Fears Fade

The U.S. economy is the top priority for Americans, with inflation worries rising and pandemic-related fears waning, a poll released Monday showed. Sixty-eight percent of Americans mention the economy in some way when asked an open-ended question about the top five priorities for the government to work on in 2022, according to a year-end poll…
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