Inflation under Joe Biden’s economic policies continues to run high, with the latest report out this week revealing just a slight slip lower as February prices were 6% higher than a year ago, down from the 6.4% in January.
Biden instituted a series of moves against America’s energy industry and others as soon as he became president, and inflation, which had been running in the 2% range, exploded.
Last summer it reached highs of 8.6% and 9.1%, costing American families thousands of dollars more just to pay the same bills they’d paid a month or a year earlier.
Now the Guardian reported prices “slowed” in February but the inflation rate remained at 6%.
“Between January and February, prices rose 0.4% as prices increased in sectors including housing and food,” the report confirmed.
Meanwhile, the economy was facing a new threat from a crisis in the banking industry, under Biden’s leadership.
Several banks have failed for reasons likely linked to the nation’s interest rates, which the Federal Reserve has been surging in its attempt to rein in that inflation.
WND is now on Trump’s Truth Social! Follow us @WNDNews
The report said, “The housing sector is seeing the stickiest price increases and contributes to over 70% of the overall inflation increase. Housing prices rose 0.8% between January and February and 8.1% over last year. The food industry also saw high price increases, reaching 10.2% inflation over the last year, though monthly increases have been slowly falling and once soaring egg prices have started to fall.”
Federal Reserve chairman Jerome Powell recently told Congress the nation has a “long way” to go to reduce inflation, suggesting even more interest rate increases for American consumers.
The report noted, “Just a day later, [Silicon Valley Bank] announced that it needed to raise capital after selling securities at a loss, triggering a textbook-case bank run where the bank’s customers, many who are venture capitalists, started rapidly withdrawing deposits. Financial regulators shut down the bank and took control of its deposits on Friday.”
The Guardian pointedly noted, “Inflation figures have largely been the main calculus in the Fed’s decision to increase interest rates, but SVB’s collapse asks a big question of the Fed: how far is it willing to go to tame inflation?”
A report from MSN noted inflation under Biden’s agenda “remained uncomfortably high in February.”
And ABC reported the inflation still “is posing a challenge for the Federal Reserve.”
It said, “Inflation pressures remain entrenched in much of the economy. Rents, grocery prices and the cost of hotels, restaurants and airplane flights have all been surging as more Americans seek housing and spend money on traveling, dining out and attending entertainment events.”
EDITOR’S NOTE: Long the world’s most Christian nation, America today is being taken over by a new “official” national religion, one being imposed on the entire populace by every major societal institution, from government, media and big tech, to academia, entertainment and business.
This new state religion is Wokeism. “Going woke” conjures up visions of someone claiming to be acutely sensitive (“awake”) to “systemic social and political injustice.” And not just alleged bigotry against blacks, but toward every other “minority” as well, from LGBT folk – especially everything transgender and “nonbinary” – to “undocumented immigrants.” All of them, being VICTIMS, intrinsically more virtuous than the shameful oppressor class: primarily heterosexual white males.
This new “woke” consciousness has turned America upside-down – from the nationwide Antifa and Black Lives Matter riots in 2020, to tearing down of historic monuments, to demanding multi-million-dollar reparation payments for blacks, to appointing transgenders as top government officials, to rampant reverse discrimination in every area of life, to the U.S. military imposing mandatory “diversity training” and transgender pronoun use on all personnel, causing recruitment to disastrously plummet.
Yet there is hope. Being “saved” – which in Wokeism is called being “woke” – is largely a matter of worshipping victimhood by becoming an “ally” and “defender” of all the many victim classes, and a determined enemy of the straight white male oppressor class. Thus, “joining the righteous” as an ally – even if one is cursed to be a straight white male – opens the door mercifully for salvation, even to the most wretched.
That is the power of the religion of Wokeism. And it’s explored as never before in the February 2023 issue of WND’s critically acclaimed monthly Whistleblower magazine. If you’ve ever wondered, for example, exactly how the most radical elements in American society are successfully pressuring the biggest corporations into adopting the most outrageous and immoral policies imaginable, even when doing so permanently damages and devalues the company, the stunning answers are in this issue of Whistleblower, titled “WOKEISM: AMERICA’S OFFICIAL STATE RELIGION.”
For 25 years, WND has boldly brought you the news that really matters. If you appreciate our Christian journalists and their uniquely truthful reporting and analysis, please help us by becoming a WND Insider!
Content created by the WND News Center is available for re-publication without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@wndnewscenter.org.
This article was originally published by the WND News Center.
