So much for inflation being “transitory.”

Yeah, I am looking at you, Jerome Powell.

According to the newest pricing numbers from the Labor Department, inflation continues to rage.

The Labor Department’s much anticipated inflation report came out on Wednesday, and as expected, it was ugly for us consumers.

Consumer prices rose by 7% over the previous year, the fastest increase in 40 years. And if my knowledge of history is correct, Ronald Reagan was president then. That is how long it has been since inflation was this high.

Fortunately, we had Paul Volker as Fed Chairman then, and he raised interest rates that threw us into a recession…on purpose!

I know, sounds crazy, but that’s what Mr. Volker did. He did so because inflation was so high that inflation needed to be tamed so raising interest rates took a crap ton of money out of the money supply which thus reduced prices across the board.

How about that for an in-depth explanation of monetary policy? Huh?

The latest Consumer Price Index data showed that prices have now risen over 6% for a third consecutive quarter.

Ouch!

And the good folks over at the Wall Street Journal reported, “The number of price categories experiencing inflation of 3% or more in the past year has nearly doubled since December 2020. That share is the highest it has been since 1991.”

So, what do you have to say for yourself, Jerome Powell?

Powell told the Senate Banking Committee on Tuesday, that “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing and transportation.”

Well, gosh, you don’t say!

That’s the economic insight of the year, folks! That’s why we pay Jerome Powell the big bucks to lead the Federal Reserve.

Moody’s Investor Services blamed the rapid inflation on our new enemy, supply chain issues.

Here we go again!

Moody’s wrote, “Supply has not kept up with this rise in demand, and prices of goods have surged….Supply disruptions, especially for semiconductors, have also contributed to shortages of high-ticket items such as new and used cars, and pushed up prices.”

Also, all you people need to start hoarding stuff. That’s according to CNBC who reported, “Inflation is also fueled by consumers deciding to buy products now before their prices rise, driving up demand further. Federal Reserve officials are watching the inflation data closely and are widely expected to raise interest rates this year in an effort combat rising prices and as the jobs picture approaches full employment.”

Yup. The Fed is expected to raise interest rates three times this year…and maybe four!

So, yeah!

Wages have been increasing, which is great!

But what isn’t great is inflation.

Wages have risen 4.7% over the past year…however, inflation rose at 7%

So, I am no math major, but by my calculations, inflation is rising faster than wage growth, which limits how many products we can buy.

However, don’t fret my fellow money movers! There is a solution to this pesky problem.

How would you like to earn endless income? That’s right, you heard me, endless income!

The more money you make, the less you must worry about inflation. So, go tell inflation to go kick rocks.

Click HERE to find out how you can tap into the most powerful income stream in America!…

How about that for a teaser!

You are going to want to check this out, my fellow money movers. You will be glad you did!