Inflation has hit the highest level in over 40 years as everyday necessities become more expansive all while Americans are now taking monthly pay cuts.
– Inflation has risen to 8/6%!
– We have not seen these numbers since 1981.
– This has been the fastest rise in over 40 years.
– Food and energy have risen 6% since last year.
– The prices of rent, gas, and food are all rising at numbers never before seen.
2/🧵— Gent (@GentGoldstein) June 10, 2022
– Food has gone up 1.2% in May, bringing the year-over-year total to 10.1%
– The rising inflation numbers indicate that American workers are taking a pay cut every month since Biden took office.
– Worker Hourly wage earnings are down 3% this year.
4/🧵— Gent (@GentGoldstein) June 10, 2022
– The Central bank will raise its rates.
– How much the Central Bank will raise is set to be seen.
THIS IS A DEVELOPING REPORT, CHECK BACK FOR UPDATES
6/6 END OF THIS 🧵— Gent (@GentGoldstein) June 10, 2022
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