- Oct 29, 2017
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President Biden’s second 100 days are off to a woeful start, including a gas shortage for much of the East Coast, a surge of inflation, a slowdown in hiring despite a record number of job openings, renewed fighting in the Middle East and an unresolved border crisis.
Consumer prices for goods and services rose 0.8% in April, the Labor Department reported Wednesday, the largest monthly jump in more than a decade. The Consumer Price Index rose 4.2% for the past 12 months, the biggest year-over-year increase since 2008.
Stocks plummeted on the inflation report, with the three major U.S. markets each losing at least 1.99% of its value. The Dow Jones Industrial Average fell 681 points to close at 33,587.
From gas shortage to inflation, Biden’s leadership suddenly under fire
Consumer prices for goods and services rose 0.8% in April, the Labor Department reported Wednesday, the largest monthly jump in more than a decade. The Consumer Price Index rose 4.2% for the past 12 months, the biggest year-over-year increase since 2008.
Stocks plummeted on the inflation report, with the three major U.S. markets each losing at least 1.99% of its value. The Dow Jones Industrial Average fell 681 points to close at 33,587.
From gas shortage to inflation, Biden’s leadership suddenly under fire