How bad is inflation in the US and around the world?
Jimmy McMillan is right: the rent is too damn high. Especially in 2022 in Manhattan.
And it's not just New York; national rents going up too. US inflation is now at 9.1%, a 40-year high. The Federal Reserve is scrambling to cool rising prices without triggering a recession by raising interest rates, Ian Bremmer explains on GZERO World.
But we've already had four rate hikes, while inflation is still going strong. And hitting unemployment will only cause more pain and suffering to those who can least afford it.
Also, this is not just an American problem. Look at the EU or Turkey, not to mention the developing world, where it's getting harder to put food on the table.