Read the story here. Advertise at Before It's News here.
Profile image
By The Pirate's Cove (Reporter)
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

BOA Experts Say Bidenflation Could Last For Years

% of readers think this story is Fact. Add your two cents.

I’m sure Joe will be laser focused on fixing it, right?

Bank of America says the ‘inflation genie is out of the bottle’ and it could take years for it to go down again

In case anyone thought that sky-high inflation would be easy to control this year, Bank of America has some bad news for you.

“The inflation genie is out of the bottle,” researchers at the bank wrote in a Wednesday research note, adding that it could be a long time before it goes back to normal.

The team of analysts, led by Athanasios Vamvakidis, studied cases of inflation in advanced economies above 5% from the 1980s to 2000s. They found that on average it took 10 years to bring inflation down to 2%.

“The consensus still expects G10 inflation to drop to 2% by 2024, but we are concerned it could take longer,” analysts wrote.

They added that with formidable rates around the world—the U.S. year-over-year inflation rate is at 8.3%, while the UK’s is at 9.9%— central banks around the world are “not in full control” of inflation, and wrote that policy tightening has its limits.

I’m sure Joe and the Democrats will pass legislation that will totally help the situation, right? Or, they could let in more migrants who deflate earnings while the cost of living goes up

The analysts did not give an exact timeline for when they believed U.S. inflation could be brought under control. But out of the two possible scenarios—either positive a “soft landing” for the economy if interest rates go down, or a negative “hard landing” if they continue to increase and the Fed is forced to continue to raise rates—the researchers offered an ominous prediction.

“Our baseline is the positive scenario, but risks for the negative scenario are increasing, in our view,” the team wrote, adding that the rest of the year’s inflation data would help them decide which scenario would unfold.

I don’t want to hear any Biden voters, nor the “Republicans” who were Never Trumpers, complain. This is on you.

Oh, and the Democrats, along with some idiot Republicans, are not helping

(AP) In a major action to address climate change, the Senate on Wednesday ratified an international agreement that compels the United States and other countries to limit use of hydrofluorocarbons, highly potent greenhouse gases commonly used in refrigeration and air conditioning that are far more powerful than carbon dioxide.

The so-called Kigali Amendment to the 1987 Montreal Protocol on ozone pollution requires participating nations to phase down production and use of hydrofluorocarbons, also known as HFCs, by 85% over the next 14 years, as part of a global phaseout intended to slow climate change.

The Senate approved the treaty, 69-27, above the two-thirds margin required for ratification.

In normal times, this wouldn’t be a problem, but, now, this will significantly raise the cost of air conditioning and anything remotely involved.

The post BOA Experts Say Bidenflation Could Last For Years appeared first on Pirate’s Cove.


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse


    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    Load more ...




    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.