Morning Wire Inflation Persists & Friendship Deficit | 2.17.24
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Feb 17, 2024 Inflation continues to surprise with a 3.1% rise in the consumer price index, triggering concerns over the economy and stock market volatility. Meanwhile, a staggering increase in loneliness in America is linked to mental health struggles, especially among younger generations. The discussion also touches on the growing trend of migrant criminality in NYC, raising questions about the legal system's response. Amid these pressing issues, the challenges of building genuine friendships in a digital age are highlighted.
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Stubborn Inflation
- January's CPI rose 3.1%, exceeding projections and signaling persistent inflation.
- Core CPI, excluding food and gas, spiked 3.9%, its largest jump in eight months.
Rising Prices
- While inflation is slowing, prices continue rising on everyday goods, impacting most Americans.
- Overall prices are up 17.9% since President Biden took office, while real wages have fallen 4.9%.
Job Market Shift
- The U.S. added 2.7 million jobs since 2019, but native-born American employment decreased.
- 2.9 million foreign-born workers filled these positions, raising concerns among Republican lawmakers.