Not true, it’s year over year not just 8 months. Actually the inflation is much worse month over month, I heard it’s over 11%. Gas was low years ago because we let the companies drill, we were an exporter of oil, compared to now which we are dependent on our enemies to drill oil for us. Gas is down now because we are depleting our national reserves which we shouldn’t be doing.
The reason why the market tanked yesterday was because they were looking for a bigger drop in inflation and it was higher than anticipated, and that’s after the federal reserve started raising rates. This month the federal reserve is going to start selling $90b of assets which will start to have a negative aspect to the economy.
I heard from an ex federal reserve member on TV that the only way to get inflation down is to have interest rates at the same level as inflation. If they raise rates .75-1%, we will be in a deeper recession
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