Media, economic experts react to April inflation numbers
Media personalities reacted to April's 8.3% year-over-year inflation on Wednesday, saying that consumers were going to have to deal with increased prices for "quite some time."Media personalities, economic experts and more reacted to the 8.3% year-over-year April inflation report on Wednesday. cooled slightly for the first time in several months in April, but still remained high as the Consumer Price Index came in at 8.3%. In March, inflation hit 8.
Steve Hanke, an economist and professor at Johns Hopkins, said that inflation was a result of"excessive money supply" since the start of the pandemic in 2020."Thanks to the Fed’s monetary mistakes and Biden’s blunders, elevated inflation will be with us trough [sic] 2023," he tweeted. Tuesday that his policies"help, not hurt." He released a statement Wednesday, saying that the slight decrease was"heartening.
CNN's National Security correspondent Jim Sciutto suggested the decrease in the year-over-year inflation from the 8.5% surge in March meant that things were easing up. Jim Geraghty, the senior political correspondent for the National Review, responded to Sciutto's tweet and said,"Can you look at these numbers and really characterize it as 'inflation took a breather'?"
"The problem is, stripping out those prices, everything else is still going up by a higher amount than economists were predicting. One of the big drivers today was the cost of housing. That’s disturbing," he said. John King, during Wednesday's"Inside Politics with John King," said that"there was no escaping this," and noted the many products and aspects of life in which Americans are seeing drastic price increases.
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