The core price figures solidified worries that inflation has now spread into all corners of the economy.
Economists fear that the only way for the Fed to slow robust consumer demand is to raise interest rates so high as toand potentially cause a recession. Typically, as fear of layoffs rises, not only do the jobless reduce spending. So, too, do the many people who fear losing their jobs. Higher prices have yet to cause much of what economists call “demand destruction” — a pullback in spending that could quell inflation. Though higher gas prices have caused Americans to drive less, there isn’t much evidence of significant cutbacks elsewhere.Restaurant prices, for example, jumped 0.9% in August and have risen 8% in the past year. But that hasn’t noticeably discouraged people from going out.
Relax Nike on sale next week!
Yay....again the very people who caused inflation with lockdowns are gonna fix it with drastic measures. Cover your sack! inflation Bidenflation
I think you mean driven by the Biden administration's policies since they took office
Driven by windfall profits
Heighten the risk of recession. Aren't we already in one
How long are we pretending that we're not already in a recession? What newspeak definition of recession are you guys using today?
Well duh.
Congratulations, 81 million.
Things are going to get much worse
what recession? thats a right wing conspiracy and you shouldnt push that narrative!
We're already in a recession
Stop lying to the public. We went into recession July 1st and the federal government had the definition of recession changed to buy time. We are already in a recession. Tell the truth. Hold the government accountable.
We are in a fucking recession, you propagandists! At this point we’re trying to avoid a full blown depression
This comment section is full of the people who brought you 'Everything is Trump's fault, no matter what'. Now the same people are bringing you 'nothing is Biden's fault, no matter what'.
“Driven by consumers”, there you go folks! It’s not the fault of the Biden administration, YOU’RE doing it! When Biden’s increased spending kicks in and the recession hits, it’ll be your fault, you put this on yourselves. Unbelievable
Driven by corporate profiteers, consumers are stuck in inflation, a conscionable solution can be made and achieved, politically, with bipartisan support, because it’s a bipartisan responsibility
This article is from 2018. I didnt really need it to know Trumps jackass trade war, was going to have ramifications. Theres a way to do anything. Trump as usual, was more concerned with scoring base voter points bashing China, the economic analytics.
I’m voting for a return to capitalism in Nov
yesitismine Driven by consumers? AP is pathetically partisan and fake news
Yup, join the party we in the EU endure for 6 months now.
Going to be honest here, the recession talk is overblown. Labor Market shows no signs of this, housing market is cooling but still chugging along in most places. Besides high food cost, but I’m not seeing where the recession concerns are.
Greedflation. Because consumers continue to spend, despite higher prices, companies continue to increase prices.
Totally overblown. Inflation has peaked. StockMarketCrash
Great propaganda
Already in one, stop carrying the administration’s waters
I wonder what would happen if corporations were just 5% less profitable and held the line on price increases. They probably won’t even feel it. There’s surely a greed aspect to raising prices.
Until next month when the indices show something else. It is becoming clear that economics is mostly reading tea leaves
Everyone who lives in the real world has known this despite the governments denials. The reality is this won’t stop until they stop corporate profiteering. Put a maximum wage on wages, outlaw corporate stock buybacks, make them spend their profits on improving products, etc
WE ARE IN A RECESSION
The Biden administration is clueless on how to curb inflation. The detrimental “Inflation Reduction Act” does nothing to remedy inflation. It’s a sham for more government spending and longer lasting inflation.
Recession panicking again by the media. The numbers do not support that. It was up 0.01%
Easy fix - quit buying shit.
If only consumers would stop buying things, the foundation of the American economy!!!! Don’t they understand that they’re driving up the cost of living? Oh well, let’s make buying a home or car more expensive, to keep this BS in check - The Fed
Wait so we are not already in one?
Meanwhile, Biden parties on the South lawn celebrating his massive tax act
Gas price just stated coming down. The rest of the market will follow behind. There’s no need to panic.
Driven by WHO? FOH
The risks of recession? Panic in Financial markets? I think you're late to the party.
You mean the report from earlier in the week that August showed 0.1% inflation?
Profiteering. You keep spelling profiteering wrong.
How can this be after the passing of the 'Inflation Reduction Act'? Nope! Don't believe you.
so 100 bps rate hike next week?
Price gouge now while you can blame inflation!
Mel_BrooksSA
Fuel has come down and thus in a few months the prices of fertilizer and plastic will too. Right now we are looking at the effects of the previous price rises that precipitated wage increases to meet the previous higher prices. Housing will go down as the housing bubble pops.
The recession is already here...... Ya'll can say oh it's inflation but really inflation is just recession pricing that never goes back down.
Utility of supply control is needed as market assets are same. State demand need a bond. The US Congress have to fix cash. nytimesbusiness NBCNewsBusiness newsmax
I like that ' driven by consumers'...when in doubt blame the people who are suffering for creating their own misery.
IlliniRSDMom FactCheck Inflation is global. not localized in the US. This inflation is a direct result of GOP failures in handling COVID which impacted agriculture, manufacturing, supply chains and retailers. Inflation has been compounded by Putin's invasion of Ukraine.
We are already in a recession, unless of course you believe Grandpa Joe.
It doesn't require any action by the Fed. At all.
Biden crime family did this.
1. Consumers are not driving this, lol 2. “Risks” of a recession - we’ve been in one for 6 months now 3. How does your reporting suck so hard
don't know how the government calculate inflation, but many food price have increased like 30 to 40%. Not just snacks but essential food like cereal and milk.
Wait…the does this mean the “inflation reduction act” didn’t actually reduce inflation? Shocking
Thanks to biden for overspending the country into a recession 🤬
history Inflation
The stock market is not the American economy
Have no fear, Christmas is coming. Everything will be just fine. Trust me.
It’s already a recession. Fix your story!
Yes and yo boy is proud.
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