JUST IN: Kamala Harris Hit With Brutal Setback At Pivotal Point In The Campaign

If two hurricanes haven’t been enough of an October surprise for Vice President Kamala Harris, then terrible news on the economic front may do the trick.

The U.S. Bureau of Labor Statistics on Thursday reported that monthly inflation came in “hotter than anticipated,” announced Bloomberg News anchor Michael McKee. The consumer price index increase is the same as the month prior and above an expected increase of 0.1%. Core inflation, which does not cover food or energy prices, rose further by 0.3% “and is also a little bit hotter than forecasted,” McKee added. Year-over-year, the CPI has sat at 2.4%, “not as good as anticipated,” while the core CPI was 3.3% and similarly dour.

Despite last week’s rosy jobs report by the Biden-Harris administration, Thursday’s numbers tell another story. A “big jump” in jobless claims indicates that employers are still hesitant to add new positions given uncertain economic indicators. The 258,000 new claims are up from 224,000 the prior month. Officials had predicted a jump to just 230,000.

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Market turmoil is the last thing Harris needs with less than a month to go before Election Day. In a bevy of unscripted interviews this week, she has cast herself as a calm, steady leader who would tamp down inflation and institute Soviet-style price controls to lower the cost of goods. Mainstream media outlets have reported on studies showing that former President Donald Trump’s tax policies would increase the rate of inflation, estimates that his campaign disputed as biased. Now, after months of revising downward jobs reports that were overly optimistic, Harris’s magical math may be catching up with her.

For example, job reports for April and May were both revised downward by approximately 111,000 fewer jobs than first reported. The change was the 10th of the previous 15 jobs reports, a sign that expectations are struggling to meet reality and that President Biden’s economists are quick to tout gains that later deteriorate upon closer inspection. Economists at The Kobeissi Letter further added that the labor force participation rate has ticked up, indicating that more working-age Americans are seeking jobs at a time employers are hitting pause on new hires.

BREAKING: BOTH May and April jobs report numbers were just revised lower by a combined 111,000 jobs.

The May jobs report was revised from 272,000 to 218,000 while the April jobs report was revised from 165,000 to 108,000.

This means that 10 out of the last 15 monthly jobs… pic.twitter.com/JdrvMolGg3

— The Kobeissi Letter (@KobeissiLetter) July 5, 2024

In September Federal Reserve Chairman Jerome Powell lowered interest rates by 0.5 points, bringing the average interest rate between 4.75 and 5% nationally. Democrats, hoping to further the narrative that Biden and Harris are reinvigorating the economy, were pressuring Powell to pursue as big a drop at 0.75. Without outside political influence by the Fed, Harris has been left to defend how she would have tackled inflation any differently than her boss.

Appearing on ABC’s “The View,” the vice president struggled to name a single thing she said she would change. “There is not a thing that comes to mind in terms of – and I’ve been a part of most of the decisions that have had impact, the work that we have done,” Harris said, according to CNN. The answer provided President Trump and Republicans another opportunity to tie her to the unpopular incumbent.

(“Tinderbox Economy”; Hedge Fund Manager Warns All Americans)