Bidenomics Is NOT Working and Millions are About To See Why


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The Federal Reserve’s key inflation metric, the core personal consumption expenditures (PCE) price index, rose to a four-month high in September. Excluding volatile elements such as food and energy, this index recorded a 0.3% increase. Alongside this inflation acceleration, consumer spending has shown an uptick, signaling the potential for further interest rate hikes in the coming months. Despite such growth, the current borrowing costs, particularly with the 10-year Treasury yields touching a 16-year peak at 5%, have made the Fed adopt a more cautious approach. A significant driving force behind the recent spending trends is a robust labor market, bolstered by increased household wealth and accumulated savings from the pandemic period. However, with a decline in the saving rate to 3.4%, there are growing concerns about the sustainability of such spending levels. Economic forecasts suggest a slowdown in the annualized economic growth to 0.7% for the current quarter, attributed to factors like rising borrowing costs and geopolitical tensions. #FederalReserve #Inflation #ConsumerSpending #EconomicGrowth #InterestRate #foodprices

Timestamps:
Food Security and the Economy 0:43
Universal Basic Income and the Robots 10:52

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