CNN: Exclusive: Russia-Ukraine conflict could cause inflation to hit 10%, new analysis finds
New York (CNN Business)The cost of living is already very high in America. The Russia-Ukraine crisis could make it even worse.
Oil prices have jumped well above $90 a barrel in recent weeks as the risk of a Russian invasion has increased.
If the Russia-Ukraine crisis drives oil to about $110 a barrel, inflation in the United States would exceed 10% on a year-over-year basis, according to a new analysis by RSM shared exclusively with CNN.
The US economy hasn't experienced 10% inflation since October 1981, according to government statistics.
"We're talking about a real short-term shock," said Joe Brusuelas, chief economist at RSM.
Read more ....
Update #1: Here’s how much US inflation would rise if Russia invaded Ukraine (NYPost)
Update #2: How a Russia-Ukraine conflict could impact the economy and markets (Nicholas Sargen, The Hill)
WNU Editor: Even President Biden is jumping on the band-wagon that a Russian invasion of Ukraine will cause economic harms on Americans .... You’re going to feel this, Biden tells Americans, as Ukraine war looms (The Guardian).
So typical of politicians. Better to blame someone else for your disastrous policies rather than yourself.
7 comments:
"So typical of politicians. Better to blame someone else for your disastrous policies rather than yourself."
Biden predicted. He did not do anything at this point to blame him. What policies will change to make his prediction come true if what he has said is things will worsen if Russia invades Ukraine.
Cut some slack the way you are doing that for Putin.
What did Biden do?
That Fucker sinned by omission.
If Putin is under the impression or knows that the US will intervene whole hog. if Putin ahs Russia invade, then chances we do not get and invasion and chances are we won't have the inflation spike or worse.
There is a price for being all Neville Chamberlainly.
YOU HAVE been 'SKOOLED' 413!
Biden has announced No American entrance into a war
Biden has announced stringent sanctions against Russia if they invade
Biden strengthening NATO
now: what would you or Trump do? Do tell us
Biden has announced No[sic] American entrance into a war[sic]
This means Biden has guaranteed a war.
I'm sure it won't be pretty but 'analysts' from cnn would make me seek multiple other sources.
What CNN is "predicting" is already here. CNN is the Pravda of Biden.
You actually believe all of that.
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