With the economy in a state of flux, it’s more important than ever to be aware of what’s going on. In this video, I’m going to talk about how Walmart CEO predicts that inflation will be with us basically forever. What he had to say might not be what you want to hear, but it’s better to be prepared for the worst. So please take a few minutes out of your day and watch this video so that you can be informed about what’s going on.
Recently, Walmart CEO spoke out about the current state of the economy and how he thinks it will impact us in the future. With the cost of goods rising every day, Walmart CEO Doug McMillon states that rising wages as well as the rising cost of goods will just continue to increase the cost of food, fuel and everyday supplies.
SOURCE 1. IMG1>> Daily Wire reported. Doug McMillon, Walmart CEO, forecast wage inflation will be “with us for the foreseeable future” and explained the impact higher prices are having on the grocery giant. Bureau of Labor Statistics data released last week shows that the Consumer Price Index rose 8.5% year-over-year as of July. As wealthier families strive to cope with inflation, McMillon explained to CNBC anchor Courtney Reagan that Walmart is gaining more consumers.
Walmart is used by many financial analysts as an indicator of inflation, and market trends.
Fox business writes. Walmart, as the country’s largest retailer and employer, is one of the best inflation gauges, and investors will be closely watching Tuesday morning’s earnings release for its 2023 fiscal year. Last quarter, CEO Doug McMillon warned that price increases may worsen, saying, “on the food side, we’re seeing double-digit inflation, and I’m concerned that this inflation may continue to increase.”
At least the corporate CEOs can admit that we are seeing massive inflation. Not like the Biden administration that changes definitions of words to suit their needs, America needs to wake up to the train wreck Biden is driving us into.