Washington developed system to lie about inflation | Eastern NC Now

Over the past few decades, Washington as a whole, not just Biden, has been consistently changing how inflation is tracked and reported because it appears the economy is better than it truly happens to be. 

Annualized inflation just peaked at 17% for the first time since WW2, the highest rate in 75 years.

Inflation is correctly defined as an expansion of the nation’s money supply. However, during the 20th century, the federal government began a series of steps to expand the money supply to facilitate more expansive federal spending. Those steps included removing the gold standard, removing the gold peg, suppressing interest rates, printing money directly into the Treasury, pandemic stimulus checks, and more.

To cover for the careless handling of the nation’s money supply, the Fed changed its definition of inflation from an expansion in the money supply to a rise in the price of goods and services. 

The Bureau of Labor and Statistics originally created the Consumer Price Index (CPI) to measure how the nation was keeping up with a consistent standard of living. 

However, in 1980, the Fed altered its calculation for the CPI to no longer measure a constant “basket of goods” but instead utilized a hedonistic, strategic group of goods to measure inflation. The Fed further utilized theory to offset real-world numbers. 

https://www.thegatewaypundit.com/2022/06/washington-developed-system-lie-inflation-real-inflation-rate-much-much-higher/

Anyone who has shopped or put gas in their vehicle knows the 8.6% inflation is a lie.  Just more cooking of the books by the govt.