During Wednesday’s “Squawk Box” broadcast, CNBC anchor Jim Cramer noted that President Joe Biden’s economy is deteriorating.
The Daily Wire writes, The Producer Price Index ticked up 0.4% in September after falling 0.2% in August, according to the Bureau of Labor Statistics.
In addition, a breakdown of BLS numbers revealed that “a major factor in the September increase in prices” was a 15.7% increase in both the index of fresh and dry vegetables. Pork, chicken eggs, home heating oil, and natural gas also saw marked increases.
It was certainly not a positive response from Cramer to the numbers
You can view Cramer’s remarks, here.
Just one day earlier, CNN’s Jake Tapper interviewed President Joe Biden, in which Biden appeared to insist that the United States was not facing a recession, or already was in the midst of one.
And on Thursday, the Bureau of Labor reported that as of September, annual inflation was 8.2%, and core inflation, which excludes energy and food prices, was 6.6%, the highest level since 1982. In both cases, the results exceeded expectations.
Biden responded to Thursday’s report by reiterating that combating inflation and lowering prices for families remains his “top priority.”
Biden wrote on Twitter, “Americans are squeezed by the cost of living: that’s been true for years, and they didn’t need today’s report to tell them that. It’s a key reason I ran for president. Working to give middle class families some breathing room in dealing with their costs is critical.”