https://pjmedia.com/news-and-politics/tyler-o-neil/2021/05/28/a-terrifying-omen-for-america-under-biden-becomes-even-worse-n1450432
A new portent of doom for the U.S. economy and the Democrats led by President Joe Biden hit the presses on Friday — a key measure of inflation in the month of April proved worse than expected. This, combined with persistently high unemployment numbers coming out of the COVID-19 pandemic, bodes ill for the recovery and should jolt Americans out of their complacency with the Biden administration’s profligate spending.
The core personal consumption expenditures index, which officials at the Federal Reserve consider to be the best indicator of inflation, rose 3.1 percent in April, above the 2.9 percent that economists predicted, the Commerce Department reported on Friday, CNBC reported. In March, the index only rose 1.9 percent.
The index captures more price movements across a variety of goods and services and is generally considered a wider-ranging measure for inflation than the Labor Department’s consumer price index, which accelerated 4.2 percent last month.
The Fed considers 2 percent to be healthy, although it will allow the price index to grow in the interest of promoting full employment. Unfortunately, unemployment remained above 6 percent in April despite economists predicting that it would dip below 6 percent.
This persistent unemployment should not surprise Americans who are familiar with the Democrats’ $1.9 trillion blue pork bill masquerading as a “COVID-19 relief” stimulus. Only 8.6 percent of the funding went directly to combatting the pandemic, while hundreds of billions went to blue-state bailouts. The bill also sent $1,400 checks to individuals, and extended the $400/week “enhanced” unemployment benefits.