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Newsfeed: Americans Suffer Pay Cut as Inflation Outpaces Wage Growth

Newsfeed: Americans Suffer Pay Cut as Inflation Outpaces Wage Growth

Despite the Fed’s most aggressive interest rate hike since 2000, consumer prices continued to surge in May, adding to fears that inflation may be out of control. According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers (CPI-U) increased 8.6 percent over the last 12 months before seasonal adjustment, the highest reading since December 1981.

Newsfeed: Shocking Consumer Credit Numbers: Everyone Maxing Out Their Credit Card Ahead Of The Recession

Newsfeed: Shocking Consumer Credit Numbers: Everyone Maxing Out Their Credit Card Ahead Of The Recession

While it is traditionally viewed as a B-grade economic indicator, the April consumer credit report from the Federal Reserve was another shocker especially after last month’s stunning surge in credit card debt which saw the biggest increase in revolving credit on record which is why we said that today’s G.19 print straight from the Fed would be just as important as Friday’s CPI print…