Customers in a store in Maryland. Source: Reuters

The United States opened 2022 with economic inflation of 7%, surpassing the record since 1982, even the highest compared to other developed economies, which have also perceived blows in the prices of their goods and services.

What caused the US inflation rate?

Economists attribute that the hundreds of billions of dollars injected into the economy since the beginning of the pandemic by Joe Biden and his predecessor, Donald Trump, caused an increase in demand for goods and services, but supply was affected by shortages of labor, raw materials and disruption in the supply chain. A cocktail that inevitably generated an explosion in prices, decreasing the purchasing power of Americans.

In this regard, the president of the United States, Joe Biden, was addressed on the subject, in a press conference; however, the questioning did not please the White House representative.

Asked by a reporter for fox news about «whether inflation would be a political issue,» Biden sarcastically replied that, «no, that’s a great asset. More inflation. What a stupid son of a bitch,» startling in reference to the journalist.

Two years after the outbreak of the pandemic and behind the inflation curve, the Federal Reserve of the United States announced to raise the cost of money in March, with the intention of directly influencing prices and seeking to curb demand to achieve an equilibrium.

The best thing for continued labor gain would be based on «promoting a prolonged expansion which will require stability in prices,» said Jerome Powell, chairman of the Federal Reserve System of the United States of America, who pledged to use all «the tools so much as to support the economy and the strong labor market, as if to prevent higher inflation from taking root.»

Unlike the inflationary blow in the US and the euro zone, the picture is different for other major economies in the world, such as China and Japan, which are keeping their levels under control.  Is this the harbinger of a new world economic order initiating?