The feds are killing our economy worrying about inflation and that is the truth of the matter. The bread used to be 5ct and gas was 15ct so what is the freaking problem raise rates were you want them and back off people are going to buy stuff we have been conditioned. The war in Ukraine is causing this mess also and also Covid.
US stocks opened lower on Thursday after new inflation data came in higher than Wall Street had expected.
The consumer price index, or CPI, rose 0.4% in September from the previous month, more than the 0.2% estimate from analysts surveyed by Refinitiv. On an annual basis, inflation was up 8.2%.
CPI is an inflation gauge closely watched by the Federal Reserve. The elevated number stoked investor fears that the Fed is likely to continue its aggressive regimen of interest rate hikes at its meeting in November, bringing more pain to the economy and weighing on markets.
The Dow fell 556 points, or 1.9%, on Thursday morning.
The S&P 500 was down 2.2%.
The Nasdaq Composite was 3% lower.
