Goldman Sachs is warning inflation will get worse in 2022. In October, the partisan globalists said it would plunge. The latest prediction is likely meant to save its reputation. At the same time, Biden’s only solution is to spend more money.
American consumers are grappling with the fastest price increase in decades, with the cost of everything from cars to gasoline to food soaring nationwide.
In a recent analyst note to clients, Goldman Sachs economists warned that pandemic-induced disruptions in the global supply chain – which have caused congestion in ports and warehouses nationwide – could last longer than expected as surging demand struggles to keep up, meaning that inflation metrics will remain “quite high for much of next year.”
“It is now clear that this process will take longer than initially expected, and the inflation overshoot will likely get worse before it gets better,” they wrote.
Biden is out taking credit for getting goods to us and curing the supply chain problem. He did bupkis and the problem isn’t fixed.
Inflation, as measured by the Federal Reserve’s preferred gauge, has climbed to the highest level since February 1982. In November, the personal consumption expenditures price index jumped to 5.7%, well above the Fed’s preferred target of 2%. The data is further evidence of a spike in prices illustrated by a separate measure – the Consumer Price Index – which showed inflation rose by 6.8% in November from the previous year.
Predictions are worthless, because, like everything else, they’ve been corrupted by politics. However, if Biden remains as president, unhampered by a Republican Congress, even though they aren’t great themselves, we will lose our country. The economy will collapse.
How much more abuse and printed money do you honestly think our economy can take? Be honest, vote for the Republicans and save the country.