Inflation Surges Above 2%, US Is Doomed

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Well, this is it, boys and girls. We’re doomed:

The Consumer Price Index has breached 2 percent for one month, which means hyperinflation is right around the corner. The Fed must act!

Never mind that the Fed doesn’t care about the CPI and pays attention to the PCE inflation index, which is well below 2 percent. Or that they really pay attention to the core PCE, which is also well below 2 percent. Inflation is always and everywhere ready to devour us.

Sarcasm aside, it is a little odd that the CPI and PCE went in opposite directions in November. I’ll be curious to see if that continues when we get the December PCE numbers.

DEMOCRACY DOES NOT EXIST...

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In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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