_{ECONOMIC NEWS}

Grim Forecast: Fed Official Warns Inflation Battle Could Drag Into 2025

Atlanta Federal Reserve Bank President Raphael Bostic stated in a Bloomberg TV interview that the public should prepare for higher interest rates extending into 2025 as the battle against inflation continues. The Fed aims to reduce inflation to its 2% target by maintaining high interest rates, which have already slowed economic growth and the robust labor market. Bostic noted that the new "steady state" for interest rates will be higher than the pre-pandemic near-zero levels. Despite weaker labor markets compared to last year, they are not yet soft.

Key Points:

• Inflation fight may last until 2025.

• Interest rates to remain higher than pre-pandemic levels.

• High interest rates slowing economic growth and labor market.

  Read More

_{FINANCIAL FOCUS}

Terrifying Surge: Inflation Skyrockets 20% Since Biden Took Office

Inflation has become a significant political challenge for President Biden's re-election campaign, with the consumer price index rising 3.4% in April, though down slightly from March. Since Biden took office in 2021, prices have surged by over 19.4%. Despite Biden's statement highlighting a 60% drop from the inflation peak of June 2022, prices remain high, significantly impacting American households. Groceries, shelter, and energy costs have soared, increasing financial strain, especially for lower-income families. Americans now pay $784 more per month compared to two years ago. A recent Gallup poll shows only 38% of voters trust Biden on economic matters, reflecting growing pessimism and posing a potential threat to his re-election bid. Read Now.