{"id":588633,"date":"2021-07-12T06:50:59","date_gmt":"2021-07-12T10:50:59","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=588633"},"modified":"2021-07-12T06:51:03","modified_gmt":"2021-07-12T10:51:03","slug":"bidens-america-economists-issue-warning-for-americans-to-brace-themselves-for-years-of-inflation-not-seen-in-decades-report-says","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidens-america-economists-issue-warning-for-americans-to-brace-themselves-for-years-of-inflation-not-seen-in-decades-report-says\/","title":{"rendered":"\u2018Biden\u2019s America\u2019: Economists Issue Warning For Americans To \u2018Brace Themselves\u2019 For Years Of Inflation Not Seen In Decades, Report Says"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">40<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidens-america-economists-issue-warning-for-americans-to-brace-themselves-for-years-of-inflation-not-seen-in-decades-report-says%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=588633&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/Biden-10-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>A new report on Sunday highlighted concerns from top economists about the impacts of Democrat President Joe Biden\u2019s massive government spending.<\/p>\n<p>\u201cAmericans should brace themselves for several years of higher inflation than they\u2019ve seen in decades, according to economists who expect the robust post-pandemic economic recovery to fuel brisk price increases for a while,\u201d The Wall Street Journal <a href=\"https:\/\/www.wsj.com\/articles\/higher-inflation-is-here-to-stay-for-years-economists-forecast-11626008400\">reported<\/a>. \u201cThe respondents on average now expect a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before. They forecast the annual rise to recede to slightly less than 2.3% a year in 2022 and 2023. That would mean an average annual increase of 2.58% from 2021 through 2023, putting inflation at levels last seen in 1993.\u201d<\/p>\n<p>The report noted that inflation measures had jumped to their highest levels since the early 1990s and that the Biden administration may not raise rates until after the midterms to avoid more fallout at the polls from the administration\u2019s policies.<\/p>\n<p>Economists told the newspaper:<\/p>\n<ul>\n<li>Joel Naroff, chief economist at Naroff Economics LLC: \u201cWe\u2019re in a transitional phase right now. We are transitioning to a higher period of inflation and interest rates than we\u2019ve had over the last 20 years.\u201d<\/li>\n<li>Diane Swonk, chief economist at Grant Thornton: \u201cInflation is expected to surge longer and longer\u2014longer than the Fed previously thought. The Fed is now likely to raise rates in the first half of 2023, although some Fed presidents will be nipping at the bit to move sooner.\u201d<\/li>\n<li>Kevin Swift, chief economist at the American Chemistry Council: \u201cThe danger is that monetary authorities are behind the curve. I\u2019m not saying hyperinflation is around the corner, just that a lot of things have come together in the last year, and the overall trend of costs across the board is growing faster than in the last five or 10 years.\u201d<\/li>\n<li>Swift noted the havoc that inflation is having on the construction industry, saying: \u201cIt\u2019s disruptive\u2014you can\u2019t be sure of what your costs are, whether you can get supplies or what the costs will be six months from now. I\u2019d hate to be in the construction business trying to bid on a job when you don\u2019t know what the cost of steel will be 18 months from now.\u201d<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"4.8695652173913\">\n<p lang=\"en\" dir=\"ltr\">Biden&#8217;s America <a href=\"https:\/\/t.co\/US9OrefXeK\">https:\/\/t.co\/US9OrefXeK<\/a><\/p>\n<p>\u2014 Comfortably Smug (@ComfortablySmug) <a href=\"https:\/\/twitter.com\/ComfortablySmug\/status\/1414395087228899332?ref_src=twsrc%5Etfw\">July 12, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"4.9032258064516\">\n<p lang=\"en\" dir=\"ltr\">Literally Biden\u2019s America. <a href=\"https:\/\/t.co\/mf3EkYfuem\">https:\/\/t.co\/mf3EkYfuem<\/a><\/p>\n<p>\u2014 John Cooper (@thejcoop) <a href=\"https:\/\/twitter.com\/thejcoop\/status\/1414403143396470787?ref_src=twsrc%5Etfw\">July 12, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"4.2307692307692\">\n<p lang=\"en\" dir=\"ltr\">Looks like <a href=\"https:\/\/twitter.com\/hashtag\/Bidenflation?src=hash&amp;ref_src=twsrc%5Etfw\">#Bidenflation<\/a> is here to stay <a href=\"https:\/\/t.co\/c72N3rDWRJ\">https:\/\/t.co\/c72N3rDWRJ<\/a><\/p>\n<p>\u2014 Mike Berg (@MikeKBerg) <a href=\"https:\/\/twitter.com\/MikeKBerg\/status\/1414401592204333057?ref_src=twsrc%5Etfw\">July 12, 2021<\/a><\/p>\n<\/blockquote>\n<p>The Biden administration apparently knows that inflation is a serious issue that they are having to face as a result of their policies. For the Fourth of July weekend, the administration bragged about saving Americans $0.16 on the cost of the total amount of food that they\u2019ll consume on the Fourth of July.<\/p>\n<p>The administration claimed that the $0.16 in savings was proof that \u201cthe Biden economic plan is working.\u201d<\/p>\n<p>The Daily Wire <a href=\"https:\/\/www.dailywire.com\/news\/biden-admin-brags-about-saving-americans-16-cents-on-july-4-food-our-economic-plan-is-working\">reported<\/a>:<\/p>\n<blockquote readability=\"11.097744360902\">\n<p><em>The claim that saving Americans a total of $0.16 on a very narrow list of items is proof that \u201cthe Biden economic plan is working\u201d is laughable. Inflation is&nbsp;<a href=\"https:\/\/www.forbes.com\/sites\/mikepatton\/2021\/06\/10\/buckle-up-3-reasons-why-inflation-is-rising\/?sh=5affc9f32f80\">skyrocketing<\/a>, the economy has a&nbsp;<a href=\"https:\/\/www.nbcnews.com\/business\/economy\/jobs-are-coming-back-workers-are-not-n1270168\">record-high<\/a>&nbsp;quit rate, millions of Americans could soon face&nbsp;<a href=\"https:\/\/www.cnbc.com\/2021\/05\/31\/millions-of-americans-could-face-eviction-as-housing-protection-expires-in-june.html\">evictions<\/a>, and Biden has suffered&nbsp;<a href=\"https:\/\/www.dailywire.com\/news\/breaking-u-s-recovery-falls-short-again-in-may-misses-expectations-by-more-than-100000-jobs\">numerous <\/a><a href=\"https:\/\/www.dailywire.com\/news\/biden-struggles-disastrous-jobs-report-shows-america-is-on-the-right-track\">disastrous<\/a>&nbsp;job report numbers. Gas prices are higher now than they were at any point under former President Donald Trump and are the&nbsp;<a href=\"https:\/\/www.eia.gov\/dnav\/pet\/hist\/LeafHandler.ashx?n=PET&amp;s=EMM_EPMR_PTE_NUS_DPG&amp;f=M\">highest<\/a>&nbsp;they\u2019ve been since 2014. AAA&nbsp;<a href=\"https:\/\/gasprices.aaa.com\/for-independence-day-holiday-weekend-national-average-continues-to-climb\/\">said<\/a>&nbsp;this week that they expect \u201ccrude oil prices to likely continue climbing following the holiday and through the end of summer.\u201d Top Democrat economists have&nbsp;<a href=\"https:\/\/www.dailywire.com\/news\/top-democrat-economist-warns-of-biden-inflation-hard-to-put-out-fire-without-doing-a-lot-of-damage\">warned<\/a>&nbsp;that the economy is at serious risk of overheating and of inflation becoming much worse. Eighty-five percent of Americans are now&nbsp;<a href=\"https:\/\/nypost.com\/2021\/06\/22\/inflation-worries-soar-with-85-of-americans-somewhat-concerned-poll\/\">worried<\/a>&nbsp;about inflation. Top investors have also&nbsp;<a href=\"https:\/\/www.cnn.com\/2021\/06\/19\/business\/inflation-housing-market-federal-reserve\/index.html\">warned<\/a>&nbsp;the Biden administration \u201cjust continues to pour more gasoline on [the housing market] fire,\u201d which they said is \u201cmaking inequality worse\u201d because \u201cyou end up subsidizing the rich at the expense of the poor.\u201d<\/em><\/p>\n<\/blockquote>\n<p>Larry Summers, who held top economic positions in the Clinton and Obama administrations, <a href=\"https:\/\/www.dailywire.com\/news\/top-democrat-economist-warns-of-biden-inflation-hard-to-put-out-fire-without-doing-a-lot-of-damage\">said<\/a> during an interview last month that Biden\u2019s policies had significantly raised the risk of the economy overheating, which would \u201cbe hard to put out the fire without doing a lot of damage and causing a lot of problems.\u201d<\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report on Sunday highlighted concerns from top economists about the impacts of Democrat President Joe Biden\u2019s massive government spending.\u201cAmericans should brace themselves for several years of higher inflation &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2314456,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/Biden-10-scaled-1.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Biden\u2019s America\u2019: Economists Issue Warning For Americans To \u2018Brace Themselves\u2019 For Years Of Inflation Not Seen In Decades, Report Says","footnotes":""},"categories":[],"tags":[],"class_list":["post-588633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/Biden-10-scaled-1.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"\u2018Biden\u2019s America\u2019: Economists Issue Warning For Americans To \u2018Brace Themselves\u2019 For Years Of Inflation Not Seen In Decades, Report Says","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/588633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=588633"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/588633\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2314456"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=588633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=588633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=588633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}