Runaway house price inflation continues to characterize the U.S. market. House prices across the country rose 15.8% on average in October 2021 from the year before. U.S. house prices are far over their 2006 Bubble peak, and remain over the Bubble peak even after adjustment for consumer price inflation.
Surging inflation will cost millions of Americans more than $3,000 in additional expenses this year, according to a Penn Wharton University of Pennsylvania Budget Model (PWBM) analysis published on Wednesday.
US retail sales grew by 0.3% in November, down October’s growth of 1.7%, amid an inflation spike that has raised prices of all products, Commerce Department data showed on Wednesday.
Inflation numbers due to be released later Friday by the U.S. Bureau of Labor Statistics (BLS) are expected to show consumer prices rising at their fastest pace since 1982, with investors bracing for what could be a market-moving data drop.
Economist Ernst Wolff believes that a hidden alliance of political and corporate leaders is exploiting the pandemic with the aim of crashing national economies and introducing a global digital currency.
President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed.
