(News Editors) It was last August when Jerome Powell began to admit that inflation just might be a problem. But even then, he was only willing to say that inflation would likely be “moderately” above the arbitrary 2 percent inflation standard. Back in August, low inflation—not high inflation—was still perceived to be the “problem.” But things had certainly changed by late November when Powell was forced by reality to retire “transitory” as the preferred adjective to describe price inflation. At that point, the Fed began strongly hinting that it would finally do something to rein in price inflation. But exactly when that might happen remained anyone’s guess.
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Maryland and Georgia Suspend Gas Taxes, Other States To Follow in Effort To Hide Biden’s Inflation
(Mary Villareal) Maryland and Georgia have halted their collection of gas taxes in an effort to hide the effects of Biden’s inflation from the American people.
Trucking Industry Is Short 80,000 Truck Drivers Amid Supply Chain Crisis
(Divina Ramirez) The American Trucking Associations (ATA) claimed that the trucking industry is short by a record high 80,000 drivers, which is 30 percent more than before the Wuhan coronavirus (COVID-19) pandemic when the industry faced a shortage of 61,500 drivers.
Small Businesses Unable To Cope With Increased Prices Caused by Port Congestion
(Arsenio Toledo) Small businesses are feeling the brunt of the congestion in America’s ports and supply chains. While larger corporations are expanding their operations to keep up with demand, smaller businesses can’t scale up their services and are being left in the dust.
California’s Environmental and Truck Laws To Blame for Supply Chain Crisis – Social Media Posts Go Viral
(Mary Villareal) Don Helms, the owner of North Idaho RV Rentals, went viral on social media when he blamed the changes to labor laws and California’s strict environmental laws for causing supply chain woes.
Food Inflation in the US about to Reach a Tipping Point
(Arsenio Toledo) Food inflation in the United States is reaching a tipping point. If the prices of food in groceries go up any further, industry executives warn that consumer spending habits may change.
Tech Companies Amass Large Portfolios of New Properties During Pandemic
(Mary Villareal) The biggest U.S. companies are sitting on huge piles of cash, and they are running out of ways to spend it. So now, they are putting their money in a lot of commercial real estate.
US Mint Postpones Silver Coin Pre-orders amid Global Silver Shortage
(Virgilio Marin) The United States Mintdelayed pre-sales of its non-circulating silver coins amid a global silver shortage. In a statement on May 27, the bureau said that its supply of silver blanks is not able to keep up with the demand for its coins.