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Stocks plunge after surprise August inflation bump
The Hill ^ | 09/13/2022 | SYLVAN LANE

Posted on 09/13/2022 11:38:14 AM PDT by ChicagoConservative27

An unexpected inflation jump in August set stocks plunging Tuesday as Wall Street braced for steeper Federal Reserve rate hikes and a potential economic slowdown.

The Dow Jones Industrial Average was down 2.8 percent shortly after 2 p.m. Tuesday, a decline of more than 900 points, after the Labor Department released a surprisingly hot consumer price index (CPI) report earlier in the day.

The S&P 500 was down 3.1 percent and the Nasdaq composite was down 3.9 percent on the day.

Markets began selling off after the Labor Department reported a 0.1 percent increase in the consumer price index (CPI), a closely watched gauge of inflation, in August.

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: anwr; august; bidenflation; inflation; keystonexl; opec; stocks; surprise; unexpected
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To: ChicagoConservative27

Those of us still buying groceries aren’t “surprised”!


41 posted on 09/13/2022 12:21:46 PM PDT by Road Warrior ‘04 (BOYCOTT The NFL, MLB, NBA, NASCAR & Faux Snooze! Molon Labe! Oathkeeper! )
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To: FlipWilson

The AP drinks the Biden Kool-Aide.


42 posted on 09/13/2022 12:22:00 PM PDT by Chgogal (Welcome to Biden's Weaponized Fascist Banana Republic! Fuhrer Biden is supported by MSM & DC.)
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To: Magnum44

Surprise bump?

By the same people who don’t know the textbook definition of inflation....all they are is biased political hacks...That’s what we have here....oh, and trans or pedos (or both) running agencies....

Why? Because they are easy to control.


43 posted on 09/13/2022 12:22:33 PM PDT by BereanBrain
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To: packagingguy

The idea that printing trillions of dollars and raising interest rates would solve what is essentially a supply problem (not a demand problem) is sheer folly. We are led by buffoons.

The supply problem was caused by worldwide government shutdown.


44 posted on 09/13/2022 12:43:42 PM PDT by monkeyshine (live and let live is dead)
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To: ChicagoConservative27

Unexpectedly


45 posted on 09/13/2022 12:45:12 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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To: monkeyshine

There are two supply problems presently:

- too low a supply of goods generally, but especially energy, reaching the market, and

- yes, too much money printed (an inflated money supply) as a form of creating public debt.


46 posted on 09/13/2022 12:47:54 PM PDT by 9YearLurker
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To: FlipWilson

Government maffs. It was suppose to be 15% inflation but was only 10%. Therefore, a drop in inflation of 5%.


47 posted on 09/13/2022 12:51:47 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes.)
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To: monkeyshine

Funny, it’s almost like this was planned from the beginning. Huh.


48 posted on 09/13/2022 1:04:57 PM PDT by packagingguy
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To: ChicagoConservative27

The Hill, Biden and his diaper girl are the only ones surprised.


49 posted on 09/13/2022 1:31:31 PM PDT by Zathras
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To: ChicagoConservative27

The federal government has printed trillions of dollars and we still have inflation.


50 posted on 09/13/2022 1:50:33 PM PDT by jeffersondem
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To: ChicagoConservative27

The AP lives in a state of constant surprise. The staff are all on some kind of drugs just to maintain.


51 posted on 09/13/2022 3:23:36 PM PDT by JPG (MAGA)
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To: JPG

Every economic report during the reign of Caliph Baraq seemed to contain the phrase “unexpected”.


52 posted on 09/13/2022 3:24:58 PM PDT by nascarnation (Let's go Brandon!)
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To: packagingguy
Since 2008...lol, we haven't even felt debt up to 1998 yet. Crapstorm is just starting, wait until Medicare Part A and SS need trillions of infusion/monopoly money starting a little after 2026.
53 posted on 09/13/2022 3:33:54 PM PDT by rollo tomasi
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To: Tommy Revolts

To economic illiterates who suffered a brain injury. Sure.


54 posted on 09/13/2022 4:03:35 PM PDT by Eleutheria5 (All Hail the MAGA King, beloved of Ultra MAGAs and Deplorables!)
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