But P&G has another trick up its sleeve to avoid raising prices on those other products...
Posted on 10/24/2021 11:28:59 AM PDT by MNJohnnie
Twitter CEO Jack Dorsey issued a warning about rising inflation over the weekend as Treasury Secretary Janet Yellen on Sunday said the United States isn’t losing control.
“Hyperinflation is going to change everything. It’s happening,” Dorsey wrote on Twitter, later continuing to say: “It will happen in the U.S. soon, and so the world.”
During an interview on Sunday with CNN, Yellen said that inflation levels would return to normal by the second half of next year. The Treasury Secretary made the remarks in context of promoting President Joe Biden’s domestic infrastructure and social spending packages worth trillions of dollars combined, saying the two programs would be implemented over 10 years.
“I don’t think we’re about to lose control of inflation,” Yellen said. “On a 12-month basis, the inflation rate will remain high into next year because of what’s already happened. But I expect improvement by the middle to end of next year… second half of next year,” she added.
Supply chain snags have bedeviled the United States and other countries as economic reopenings have spurred a surge in demand, she continued.
“As we make further progress on the pandemic, I expect these bottlenecks to subside. Americans will return to the labor force as conditions improve,” she said.
However, a group that represents UPS, FedEx, and other air cargo companies issued a warning that the looming Biden vaccine mandate for federal contractors on Dec. 8 will trigger supply chain chaos. With that mandate coming in the midst of the Christmas shopping season, they argued that will further “adversely impact needed operations” and noted that worker shortages are already persistent.
Meanwhile, a report from the Department of Labor released earlier this month found that the U.S. consumer price inflation is running near a 30-year high. Year-over-year prices in September are up by 5.4 percent, its report found, noting price increases for food, cars, and other staple goods.
Procter & Gamble and Unilever, which both make consumer goods, both announced in recent days that they would increase prices on certain goods amid worsening inflation.
Unilever finance chief Graeme Pitkethly saw little letup in inflationary pressures and warned that “we expect inflation could be higher next year than this year,” Reuters reported.
Procter & Gamble’s price hikes are not being implemented on all its products, but they will be marked for specific items such as razors and in some sub-categories, CFO Andre Schulten said, reported Reuters. U.S. retailers are aware of the new sticker prices, he added.
“We announced price increases to retailers in the U.S. on oral care, skin care, and grooming,” Schulten said in a conference call. “It’s item by item,” he added.
The chicken little at Twitter, or the Treasury Secretary cling to denial about "transitory" inflation
Jack should have been flagged for misinformation.
(that the looming Biden vaccine mandate for federal contractors on Dec. 8 will trigger supply chain chaos)
Wouldn’t surprise me to find out this is correct
I am so glad Yellen is not the chair at FED anymore.
FED was wrong about the “transitory” inflation and will be behind the curve as always.
Where is Paul Volcker when we need him right now.
He was the only one good FED chairman since 1960.
But P&G has another trick up its sleeve to avoid raising prices on those other products...
During an interview on Sunday with CNN, Yellen said that inflation levels would return to normal by the second half of next year.
Couple of question:
What is normal??
Is she forecasting a depression??
Are they going to change the formula for calculating inflation?
Janet Yellen is living proof that there is no such thing as a Democrat who knows even the first thing about economics.
But she knows a lot about how to unleash the plague of Bidenomics on our now unstable nation.
God help us.
This is like the closing scene in the movie Animal House when Kevin Bacon started yelling, “Remain Calm, All is Well” as chaos was breaking out..
Not losing control?
Take the feds off their COLAs and that tune would change pretty fast.
Either she doesn’t know or she’s lying. And I think it’s more likely that she’s lying. Yellen is on Team Biden, and she’ll say and do anything to make Biden look good. The truth doesn’t matter. Kinda like with this guy:
Theoretically, how narrow can you make a roll of toilet paper?
So, Comrade Dorsey and Comrade Yellen disagree on inflation. Let the record show that their both millionaires many times over and thus don’t feel any pain or really give a damn.
That might actually be true. The expansion of the money supply has been slowing down. It was 38% but it was down to 8% for last month. It seems like they want their tax to putter out around election time.
I do wonder though. An effective way to push their Communist take over is to utterly destroy the economy and Hyper Inflation got the Bolsheviks the absolute power they craved.
Notice she was arguing in favor of $5.5 trillion in new spending the Biden Democrats want?
Yellen seems to think dumping a gasoline tanker truck of Fed spending on the inflation bonfire is going to “fix” the problem
Government 101: The perception of control is the reality of control.
If that does not result in the needed 50% or more they will use mail in vote fraud to make up the difference.
the Twit guy at least deserves credit for calling this inflation mess correctly
it well could spiral much worse than it has already gotten
inflation is like that, EVEN IF THE WASHINGTON REGIME (INCLUDING THE FED) really do want to “control” or, hopefully, prevent it
which, quite frankly, does NOT look at all likely (given how the Washington regime is trying to print another 3.5 to 5 Tillion fake dollars to throw out of helicopters (and steal outright)
do that and we will very soon see $20 gas and $25 TV dinners
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