Americans should expect to pay more for products for a long time thanks to Democrats’ reckless spending policies that disregard the country’s supply chain bottlenecks.
November 4, 2021
‘Transitory’ Inflation Expected to Last for A While
The Biden-Harris administration has said for months that inflation would be a “transitory” issue, but as the cost of everyday goods and services continues to surge, economists are saying inflation may be around much longer than anticipated.
CBS: “‘Our sense is that the inflation and price increases will get worse in the near term before they get better,’ Bostjancic noted. Her forecast is that headline inflation — or inflation including gas and food prices — will stand at 5.3% in the first three months of 2022, but may start to ease in the second quarter.
“Goldman Sachs analysts, meanwhile, forecast inflation will return to about 2% — but not until late 2022.”
“There’s nobody suggesting there’s unchecked inflation on the way — no serious economist,” Joe Biden asserted back in July.
But persistent inflation has sparked sticker shock across the country, forcing Americans to pay more for things like grocery and gas.
CBS: “‘I grew up in the 1970s and I remember it was hard for my parents to make ends meet,’ Nadine Christian, 55, told the Associated Press. ‘It’s not quite as bad as it was back then but I feel like any day we could go off the rails.’”
Bottom line: Americans should expect to pay more for products for a long time thanks to Democrats’ reckless spending policies that disregard the country’s supply chain bottlenecks.