by Ian Hanchett
Breitbart.com
On Friday’s broadcast of CNBC’s “Squawk on the Street,” BlackRock CEO Larry Fink stated that it will be difficult to reach 2% inflation and one reason is “We have a trillion dollars of fiscal stimulus in the CHIPS Act, the Infrastructure Act, and the IRA.”
Fink stated, “Even when everyone became enthusiastic, it never got to 2.”
Co-host Sara Eisen then asked, “And you don’t see it getting there –?”
Fink responded, “No.”
Eisen then asked, “For how long?”
Fink answered, “I think 2 is a hard number. We have restructured how we frame our economic policy. We have a trillion dollars of fiscal stimulus in the CHIPS Act, the Infrastructure Act, and the IRA. We have very poor legal immigration policies that have restricted, and that is all inflationary in jobs.”
Iran’s response this weekend appeared relatively mild. Armstrong called it a “test attack.” What happens next? I’m told that in hand-to-hand combat, you “feint” (jab?) so you can discover what your opponent’s reaction will be. Perhaps when the Biden-Handlers are distracted by some other event, somewhere else in the world, the real attack will come. Another question: how bad is the (microclot-caused?) brainfog inside the IDF? Were they all force-vaxxed-and-boosted too, just like the US service members tragically were by Biden-Handler-Lloyd-Austin?
Washington Post columnist Megan McArdle recently wrote that the best argument made in favor of limiting the size of the stimulus during the Great Recession—part of a larger conversation about austerity—was one of ethos. “We weren’t spending the money in theory,” she wrote, “or in 1945, when an ethos of fiscal responsibility prevailed. We were spending it in the 21st century, when that ethos had collapsed, so there was a considerable chance that when the good times finally rolled around, no politician would willingly undertake the sacrifices necessary to get the budget back in shape.”
A hotter-than-expected consumer price index report rattled Wall Street Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.
WASHINGTON — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.
When the price of oil rises, the price of everything else rises. It’s a near-universal rule owing to the fact that virtually all goods and services involve the use of oil at some stage of the supply chain that brings them from producer to consumer.
Democratic Party analysts and left-leaning economists have had quite enough of their fellow Americans’ complaints. As a striking number of poll respondents express alarm, despair even, about the rising cost of living during Joe Biden’s presidency, experts shake their heads. Don’t people realize that jobs are plentiful, wages are rising, and inflation is in retreat?
Consumer prices rose 3.5% in March compared to a year ago, accelerating markedly from the previous month and reversing some of the progress achieved in a two-year fight to cool inflation, U.S. Bureau of Labor Statistics data showed. The finding matched economists’ expectations.
Claim: President Joe Biden claimed on Wednesday that inflation was “skyrocketing” when he took office.
Welcome to this week’s Finance University episode.