This morning's reading of 8.3% for the month of August's inflation rate was significantly higher than what was anticipated.
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
On Tuesday, Democrats and Vice President Joe Biden were to celebrate the passage of their "Inflation Reduction Act" at the White House.
In August, Democrats passed a spending plan for green energy that they termed the "Inflation Reduction Act," despite the fact that it included another $700 billion in wasteful spending.
Democrats are of the opinion that spending billions will bring inflation down.
The United States continues to see an acceleration in 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
The revelation has resulted in a loss of 850 points on the US markets.
This was referred to as "progress" by Joe Biden.
The preceding is a summary of an article that originally appeared on GATEWAY PUNDIT.