This is what happens when the Fed pumps trillions of dollars in to the economy for no good reason at all. The more money they print, the less the money is worth.
Moreover, the more money there is chasing goods and services naturally drives the price of everything upward, as demand remains constant and supply is diminshed. It's simple economics that the geniuses in Washington do not understand.
Wholesale inflation in the United States shot up 11.2 percent last month from a year earlier, in another sign that inflationary pressure remains high at all levels of the economy.
The Labor Department said Wednesday that its producer price index - which tracks inflation before it hits consumers - jumped 1.4 percent in March from the prior month and 11.2 percent from a year ago.
It is the largest 12-month increase in wholesale prices since annual rates were first calculated in 2010, adding to pressure on President Joe Biden as inflation emerges as a top voter concern.
But it is all Putin's fault, isn't it, Joe?
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