![]() If anything, the United Arab Emirates has emerged as a sort of financial haven for Russian billionaires and their multimillion-dollar yachts. ![]() to sanction Russia, a key foreign policy priority for the Biden administration. None of the countries represented at the summit have moved in lockstep with the U.S. Hours before the Gulf Cooperation Council summit, the White House released satellite imagery that indicates Russian officials have twice visited Iran in recent weeks for a showcase of weapons-capable drones it is looking to acquire to use in its war in Ukraine. positioning in the Middle East and knit the region closer together against Iran. Biden told fellow heads of state at the summit that the United States was committed to the Middle East and “will not walk away and leave a vacuum to be filled by China, Russia or Iran.”īiden sought to use his appearance at the summit, closing out a four-day trip to the region, to bolster U.S. ![]() The Biden administration released the intelligence as President Joe Biden met Saturday with leaders of six Arab Gulf countries, plus Egypt, Jordan and Iraq for a regional summit. “Anyone saying ‘If you remove food and fuel from the CPI, inflation really isn’t that bad,’ try to live without food and gas for a month and let me know how that goes,” Washington Times columnist Tim Young wrote on Twitter.JEDDAH, Saudi Arabia (AP) - Russian officials visited an airfield in central Iran at least twice in recent weeks to view weapons-capable drones it is looking to acquire to use in its war against Ukraine, the White House said. However, critics of these kinds of statements explained how they were foolish. While the real CPI numbers were discussed on Wednesday morning, many people tried to assimilate what the numbers would be without food and gasoline added to the equation. Next month, real earnings will be down for a 16th consecutive month: the longest stretch on record /JO0v7ju04S Inflation adjusted earnings have been negative during 88% of Biden's presidency. Precious metals also dropped in value as silver dipped by 0.58%, and gold slid by 0.41% on Wednesday. Every major stock index is down and the price of bitcoin ( BTC) slipped from the $19,900 region to a July 13 low of $18,906 per unit. Stocks, Gold, and Crypto Markets Shudder After US Inflation Report PublishedĪfter the real report was released, the stock market saw significant losses as the Dow Jones Industrial Average shed 400 points. The fake CPI number that was seen on social media said the CPI data would come in at 10.2%. Federal Reserve will have to be “even more aggressive.” In addition to the CPI numbers that came in on Wednesday morning, the day before, the Bureau of Labor Statistics reported on an image that had shown “fake” CPI data. With a massive inflation print, it is now assumed that the U.S. Consumer Price Index report published on Monday shows a jump to 9.1% after economists expected it to come in at 8.8%, according to data compiled by Bloomberg.Īccording to Bloomberg, the news publication surveyed a number of economists and they expected the CPI data for June to come in at 8.8%. “Importantly, today’s report shows that what economists call annual ‘core inflation’ came down for the third month in a row, and is the first month since last year where the annual ‘core’ inflation rate is below six percent,” Biden’s statement detailed on Wednesday. The White House also claimed that the data is already out of date and the CPI report does not reflect “the full impact of nearly 30 days of decreases in gas prices.” In fact, the White House says that “core inflation” has dropped for the third month in a row. president Joe Biden’s administration addressed the subject. “The increase was broad-based, with the indexes for gasoline, shelter, and food being the largest contributors.” The inflation increase in June was yet another record-setting spike as it rose at the fastest pace since November 1981.Īfter the CPI report was published, U.S. “Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment,” the Bureau of Labor Statistics report notes. Inflation continues to climb higher in America as the CPI numbers for June show another monthly increase. US Inflation Continues to Print Perpetual New Highs June’s CPI data reflected a 9.1% year-over-year increase, even though a number of bureaucrats and economists thought May’s CPI data would be the record peak. ![]() inflation remains scorching hot as it has risen at the fastest yearly rate since 1981. According to the latest Bureau of Labor Statistics Consumer Price Index (CPI) report, U.S.
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