- The consumer price index, a key measure of inflation, rose 0.4% in February, up 6% from February 2022, the U.S. Bureau of Labor Statistics reported on Tuesday.
- An economist connected this persistent inflation and the crisis surrounding Silicon Valley Bank to the Biden administration’s policies.
- “Over the past week, we have witnessed more fallout from the federal government spending, borrowing, and printing trillions of excess dollars than over the previous several years. Not only did artificially low interest rates stoke inflation, but they also have facilitated a potential banking crisis,” EJ Antoni, a research fellow for regional economics in the Center for Data Analysis at The Heritage Foundation, said in a statement after the report’s release.
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Biden’s Policies To Blame For Inflation, Potential Banking Crisis, Economist Says
WASHINGTON, DC - FEBRUARY 07: U.S. President Joe Biden delivers the State of the Union address to a joint session of Congress on February 7, 2023 in the House Chamber of the U.S. Capitol in Washington, DC. The speech marks Biden's first address to the new Republican-controlled House. (Photo by Jacquelyn Martin-Pool/Getty Images)
