How the Fed ended the last great American inflation — and how much it hurt
VoxDec 27, 2022
The Facts
On Wed., the US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) climbed 9.1% in June from a year ago - the highest rate since Nov. 1981.
The increase - which is higher than economists had expected - was largely influenced by food and gas prices.
The Spin
Republican narrative
The Biden admin. has let inflation go off the rails and there's seemingly no end in sight. June's CPI results are simply another reminder that the White House is incapable of solving this problem and helping America's financial pains.
Democratic narrative
If you want to place blame for inflation, look at corporations not the Biden admin. An overwhelming number of Americans know corporations are raising prices simply because they can, which is hurting consumers and adding to the inflation crisis.
