Tag Archive for: groceries

‘Willing To Give Republicans A Chance’: JD Vance Says Democrats’ Policies ‘Failed The Black Community’

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Republican Sen. J.D. Vance of Ohio ripped Vice President Kamala Harris and Democrats Wednesday, saying that the Trump campaign was offering “common sense” when reaching out to black communities.

Trump received the support of 17% of black voters in a CBS poll released on Sunday, a sharp increase from the 12% he received in a 2020 CNN exit poll and almost identical to the support he received in a prior CBS poll released Aug. 4. Vance recalled times his grandmother struggled to put food on the table while calling out Harris over high prices during the appearance on “Fox and Friends.”

“My message to black voters in the barber shop or outside of it, Lawrence, is pretty simple, here, the argument they are making is actually very much common sense here. What they’re saying is that Democratic policies have failed the black community for a generation,” Vance said after a clip of “Fox and Friends” co-host Lawrence Jones talking with black men in a barber shop aired. “I mean, you know my story, Lawrence, I grew up with a grandmother who sometimes struggled to find enough to eat. I know that a lot of families, black and white, are in the exact same situation. But grocery prices are up 20%, thanks to the policies of Kamala Harris. And she stands there and says on day one she’s going to make groceries day affordable. Well, day one, Kamala, was 1300 days ago, and you haven’t done anything.”

“And I think it’s so inspiring that you have those men in the barber shop who are standing up and saying ‘whatever media propaganda has been fed to us, we have not had better lives under the policies of Democrat leadership, so we’re willing to give the Republicans a chance,’” Vance continued. “I think we just have to go into communities, make the argument and say, we’re going to fight for you, we’re going to fight for your wages, we’re going to fight for your jobs and we’re going to fight for affordable housing and affordable groceries for you and your children.”

In the Aug. 18 CBS poll, Trump led Harris on who could better address the economy, 56% to 43% , while Trump also held an edge on inflation, with 61% of voters saying he could handle inflation better, compared to 38% for Harris. Prices rose by 20% since Biden and Harris took office in January 2021, with the Consumer Price Index (CPI) hitting a recent high of 9% in June 2022.

Former NBA star Kwame Brown criticized black celebrities for pressuring black voters to support Harris in a four-minute video posted to social media. Multiple black voters outside the Democratic National Convention in Chicago also expressed their intention to vote for Trump, with one saying that Harris “doesn’t give a fuck” about black communities.

“Because where was she at in these past four years? And she’s vice president. What has she done for us?” the voter asked.

AUTHOR

Harold Hutchison

Reporter.

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Inflation Stays Sky-High As Core Prices Soar Above Expectations

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UPDATE: Biden “Our economy is strong as hell.”

Inflation increased 0.4% in September from August as “core” inflation, measuring the price of goods excluding food and energy, soared above expectations to a 40-year-high, according to the Bureau of Labor Statistics (BLS).

Core inflation rose 6.6% year-over-year and 0.6% month-to-month in September, beating year-over-year expectations by 0.1%, while the Consumer Price Index (CPI) fell 8.2% overall year-over-year despite spiking 0.4% from August, the BLS announced Thursday. Economists had predicted CPI would fall 8.1% year-on-year in September, down from 8.3% in August.

The decline in overall inflation can be attributed largely to a decline in energy costs, although they remain elevated by 19.8% year-on-year compared to 23.8% in August, according to the BLS. Food costs remain historically high, with the overall food index falling slightly to 11.2% annually, down from 11.4% in August.

With both headline and core inflation still well above the Federal Reserve’s target of 2%, the Federal Reserve is unlikely to halt its aggressive campaign of interest rate hikes, CNBC reported Wednesday. Goldman Sachs warned investors late September that even in the event of a so-called “soft landing,” where the Federal Reserve tames inflation without inducing a recession or a significant increase in unemployment, the Fed is likely to continue aggressive rate hikes through the end of the year, raising rates from the current baseline of 3.25% up to 4.5%.

The U.S. added 263,000 jobs in September, the slowest rate of the year, as the labor market continued to cool. Bank of America’s chief U.S. economist Michael Gapen warned Monday that unemployment could spike if the Fed continues its rate hikes, pushing unemployment as high as 5.5% from its current level at 3.5%, costing the U.S. 175,000 jobs per month early next year.

“No doubt the Fed still has its work cut out for them, and if tomorrow’s CPI read is hot, don’t be surprised to see some investors come to grips with how long the road to tamer inflation may be,” Mike Loewengart, head of portfolio management at Morgan Stanley told CNBC.

AUTHOR

JOHN HUGH DEMASTRI

Contributor.

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EDITORS NOTE: This Daily Caller column is republished with permission. All rights reserved. Content created by The Daily Caller News Foundation is available without charge to any eligible news publisher that can provide a large audience. For licensing opportunities of our original content, please contact licensing@dailycallernewsfoundation.org.