Fed Chairman Powell Confirms Historic Prices Are the Biden Price Hike

On Wednesday, Federal Reserve Chairman Jerome Powell confirmed that the 40-year high inflation and historic gas prices facing American families today were already skyrocketing before Russia’s invasion of Ukraine, affirming what Americans have known all along, this is the Biden Price Hike.

MAKE NO MISTAKE: Americans are experiencing the catastrophic economic result of Joe Biden and House Democrats’ out-of-control government spending and war on American energy.

BIDEN’S ECONOMIC CRISIS BY THE NUMBERS: 

  • Inflation is a tax on ALL Americans.

  • In May, the CPI increased 8.6% for the 12 month period ending in May, the largest 12-month increase since the period ending in December 1981.

  • Wages are not keeping up with inflation, and have actually DECREASED, while prices for goods have risen.

    • Real wages are down nearly 4% from the beginning of the Biden Administration.

    • Real average hourly earnings decreased 3.0%, seasonally adjusted, from May 2021 to May 2022.

    • Real wages have decreased under Biden 10 out of the last 12 months.

  • Inflation will cost Americans OVER $5,000 this year.

  • Americans are paying more for just about everything because of inflation.

  • Most Americans expect inflation to get worse in the next year and are adjusting their spending habits in response to rising prices.

    • U.S. consumer sentiment plunged in early June to the lowest on record as soaring inflation continued to batter household finances.

  • Already, diesel is up 115%, natural gas 202%, fertilizer 220%, and fertilizer ingredients are up 125%from January 2021 to January 2022.