Inflation Surges Above 2%, US Is Doomed

Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.


Well, this is it, boys and girls. We’re doomed:

The Consumer Price Index has breached 2 percent for one month, which means hyperinflation is right around the corner. The Fed must act!

Never mind that the Fed doesn’t care about the CPI and pays attention to the PCE inflation index, which is well below 2 percent. Or that they really pay attention to the core PCE, which is also well below 2 percent. Inflation is always and everywhere ready to devour us.

Sarcasm aside, it is a little odd that the CPI and PCE went in opposite directions in November. I’ll be curious to see if that continues when we get the December PCE numbers.

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and billionaire owners wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands.

payment methods

FACT:

Mother Jones was founded as a nonprofit in 1976 because we knew corporations and billionaire owners wouldn't fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate