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President Joe Biden’s plans to tout his stewardship of the US economy during his reelection campaign hit a snag yesterday when it was revealed that year-on-year core inflation stood at 3.9% through January. Now one economist warns that the prices of many basic goods will likely remain high even if inflation slows.
US home sales declined to the lowest level in almost three decades last year as prices rose to a record high.
Presidential candidate Robert F. Kennedy Jr. stated late Monday evening that average US income is $5000 short of meeting basic needs like food and as a result, private credit card debt is a trillion dollars, the highest in US history.
The United States continues to grapple with high inflation rates. This surge is primarily attributed to gas and rent price hikes. Although experts foresee a marginal decrease in the near future, it is expected to remain above the Federal Reserve's target.