SPX 3200 in 4 weeks?

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With inflation still raging, brace for a hard-landing recession as the Fed spikes interest rates further

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Consumer prices surged again last month — they’re now up 8.3% over last year. But what do you expect? President Joe Biden and Congress have done zilch to stem the tide and instead have kept fueling it.

That’s left the job to the Federal Reserve, which will now have to risk a painful “hard landing” recession to rein in runaway inflation.

Last month Biden boasted that the economy had “0% inflation” in July, though prices were up 8.5% over a year earlier, near the worst in 40 years. He and his supporters tried to pretend the crisis was over, or at least easing.

Yet figures Tuesday from the Bureau of Labor Statistics show they’re actually still rising and up more than economists expected, despite falling gasoline costs — themselves the result of Americans driving less thanks to (you guessed it) . . . higher gas prices.

Food prices rose 11.4% in the last year; electric bills surged 15.8%; piped gas, 33%. A new car will run you 10.1% more, on average. And on and on — with no end in sight.

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