Expert on Price Inflation Accelerating

Paul Greaney
By Paul Greaney
July 30, 2021NTD Business

The U.S. economy grew by 6.5 percent in the second quarter, missing estimates. Falling government spending and exports offset massive increases in personal spending. Personal spending accounts for about two-thirds of the U.S. economy, an 11.8 percent increase.

But it’s a double-edged sword. Massive spending means massive inflation.

The PCE, a more conservative measure of price inflation than the CPI, increased a massive 6.4 percent in the second quarter. That means price increases accelerated a lot.

NTD got an instant reaction from acclaimed author and economist Robert Genetski.

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