The only good news in today’s inflation report for October is that the Fed is not overreacting to it. Life is not fair, and the spike in consumer prices—for reasons that have nothing to do with Biden’s policies—is a blow to the Democrats.
Consumer prices are up 4.6 percent over a year ago, and almost a full point in just a month; but in highly visible sectors such as retail gasoline, they are up a lot more. Gas prices are up almost 50 percent over a year ago, and with winter coming, home heating will be more expensive, too.
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