U.S. stocks plummeted, but Biden was celebrating, CNN cut off the signal ...

On September 13, local time, the three major U.S. stock index plummeted. When Wall Street was "sad and bleak", the US President Biden held a celebration for the White House signed the "Inflation Act" last month, causing dissatisfaction with the American people.

On the same day, the latest August inflation rate in the United States reached 8.3%, higher than expected, and the three major stock indexes plummeted across the board. As of the closing, the Dow Jones Industrial Average has fallen by 1276 points, a decrease of 3.94%, the Standards 500 Index fell 4.33%, and the Nasdaq Composite Index fell 5.16%. The Naswin has the largest daily decline since mid -March 2020, and the S & P 500 Index and Taoism have all the largest single -day declines since mid -June 2020.

The analysis believes that the high inflation rate has once again exacerbated the market's concerns about the Fed's continued radical interest rate hike, and investors' emotions continued to pressure on the day. Because Biden celebrated the "inflation reduction" bill, the reality was that the inflation did not effectively relieve it. People on social networks such as Twitter immediately made such ridiculous scenes presented by the United States that day. Reaction.

When the United States CNN and Microsoft National Broadcasting Corporation (MSNBC) delivered a speech on the day of Biden to make a touting the "Inflation Act", it seemed to realize that the "timing was wrong", and the signal was immediately cut off during the live broadcast process. CNN subsequently reported information on US stocks, and MSNBC focused on Trump's judicial disputes -the two media never gave back to the White House scene.

Screenshot of Fox News Network

On August 16, local time, US President Biden signed a total value of $ 750 billion in Aflation Act, which officially took effect. The main contents of this huge expenditure bill include medical care, clean energy, and confrontation with climate change. The source of funds is obtained through tax increases to large enterprises.

Another name of the "Belts Act" is "Climate Act". Because inflation is a problem that many Americans are particularly worried at the moment, the Bayeng government chose to use the name "Inflation Act". However, many voices believe that the bill does not solve the problem of inflation, but will exacerbate inflation.

One month after the signing of the bill, Bayeng held a special celebration in the White House on September 13. He said that the "Act Act Act" is "the most important legislative legislative against inflation and one of the most important laws in the history of American Congress."

Biden held the "Inflation Act" Celebration of the "Inflation Act" in the White House that day

At the same time Bayon's bragging, the US inflation data that attracted attention in August had just been released. According to the latest data released by the US Department of Labor, the US Consumer Price Index (CPI) in August increased by 0.1%month -on -month, and the expected value decreased by 0.1%, the previous value was 0.0%; %, The previous value is 8.5%.

When asked about US stock performance and inflation data later that day, Biden just responded simply that "the stock market may not reflect the overall economy", "the US economy is still strong", "do not worry about the latest inflation data."

Disclaimer: This article is transferred from Observer.com, thank you here!

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