U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
The Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August compared to the same time last year and increased 0.1 percent from the previous month, the Bureau of Labor Statistics revealed on Tuesday.
Indicators that investors use to gauge the health of the U.S. stock market have taken a turn for the worse, fueling worries that the benchmark index may revisit its mid-June bear market low.
As working-class voters shift away from the Democratic Party, the left’s agenda becomes increasingly entangled with the interests of elites, from environmentalism to student loan bailouts to marriage to policing.
While New York, California, and Boston, Massachusetts, continue to be the most expensive rental markets in the country, some unexpected locales have actually experienced the largest increases in one-bedroom rental prices year over year.
As midterm spending intensifies, Republicans should prepare to talk about Democrats’ green agenda as another front in the elite culture war on America’s middle class.
