Joe Biden Plans Celebration of “Inflation Reduction Act” then Inflation Rate Comes in Hotter than Expected at 8.3% Annual Rate — Markets Crash

The August inflation rate came in this morning hotter than expected at 8.3%.

Breaking News: CPI number is out!
Inflation hotter than (experts) expected at 8.3% from year ago

Once again Main Street knew the number would be hotter than Wall Street.

— Charles V Payne (@cvpayne) September 13, 2022

Joe Biden and Democrats were planning to celebrate their “Inflation Reduction Act” Tuesday at the White House.

Exactly four weeks ago, I signed the Inflation Reduction Act into law.

So today, we're celebrating.

Tune in at 3 PM ET as I deliver remarks and welcome the leaders and advocates who made it happen to the People's House.

— President Biden (@POTUS) September 13, 2022

Democrats blew another $700 billion in a green energy spending bill and called it the “Inflation Reduction Act” in August.

Democrats believe spending billions reduces inflation.

Joe Biden is holding a celebration of the “Inflation Reduction Act” at the White House this afternoon https://t.co/ROEYCpy0aC

— Charlie Spiering (@charliespiering) September 13, 2022

Inflation is still surging in the US.

Today’s consumer prices report has busted Biden’s spin – inflation is still surging.

Consumer prices have been at or above 5% for 16 straight months. Real wages have been negative for 17 straight months, ever since Biden passed his “stimulus.”

Biden is the Pay Cut President. pic.twitter.com/9VmotvkdOT

— Tommy Pigott (@TommyPigott) September 13, 2022

US markets are down 850 points following the news.

Joe Biden called this “progress.”

Today’s consumer prices report has busted Biden’s spin – inflation is still surging.

Consumer prices have been at or above 5% for 16 straight months. Real wages have been negative for 17 straight months, ever since Biden passed his “stimulus.”

Biden is the Pay Cut President. pic.twitter.com/9VmotvkdOT

— Tommy Pigott (@TommyPigott) September 13, 2022