https://apnews.com/article/coronavirus-pandemic-joe-biden-business-los-angeles-health-48ff262b882a37308e4a3f15934b2ee4

https://nypost.com/2021/10/13/inflation-comes-in-hotter-than-expected-as-prices-rise-5-4-percent/?utm_medium=SocialFlow&utm_source=NYPTwitter&utm_campaign=SocialFlow

https://www.wsj.com/articles/us-inflation-consumer-price-index-september-2021-11634074529

Inflation continues to heat up as the White House attempts to cool the effects through a new plan.

Inflation is the decline of purchasing power of a given currency over time.

As inflation rises, your money buys you less. 

We expect to see some inflation in the economy, but we've seen record year-over-year gains in the last few months. One data point this week shows the highest year-over-year rise in inflation in more than a decade,  since right before the Great Recession.

 Inflation can happen for several reasons. 
Here are two:

 - If you have too much supply (the government prints too much money, or pushes too much stimulus), your dollar becomes worth less.

 - High demand and short supply lead to a rise in prices that's faster than a growth in wages.

“We’re going to help speed up the delivery of goods all across America.”

Pres. Biden announcing on Wednesday the Port of Los Angeles will open 24-7; previously the port operated 5 days a week during regular hours. The slowdown and then sudden ignition of the economy during the pandemic has led to huge backlogs of ships parked off the coast of California (near ports responsible for off-loading nearly half of all shipping containers delivered from overseas to America). Not being able to quickly offload ships has impacted the availability of goods (short supply) - also a factor in rising prices.

"Inflation is no longer 'transitory.' Supply-chain bottlenecks are getting worse. The logjam is unlikely to ease anytime soon despite the latest intervention by the White House."

Professor of finance and economics Sung Won Sohn, Loyola Marymount University in Los Angeles. Cargo ships are one part of the supply chain disruptions; unpredictable factory work overseas, shortage of raw material, and labor shortages in the trucking industry (& elsewhere) have also impacted getting goods to market - leading to short supply and higher prices.

As prices rise, and the purchasing power of the dollar falls, the stress on business and the consumer intensifies. This impacts the broader economy. What turns it around? Fewer supply issues will help, and that's the goal of the White House. But simply freeing up supply will not alleviate other causes of inflation, which can include too much spending and stimulus (from Congress as well as the Federal Reserve) - an issue for both Democrats and Republicans.

Current Events

Historic Inflation Reading 

https://apnews.com/article/coronavirus-pandemic-joe-biden-business-los-angeles-health-48ff262b882a37308e4a3f15934b2ee4

https://nypost.com/2021/10/13/