Another barometer to measure United States’ economic health just spiked in a bad way

President Joe Biden’s White House continues to swear up and down that the United States is certainly not in a recession, even though every traditional economic indicator and gauge says otherwise.

Another popular measurement of the country’s financial health comes in the form of the Personal Consumption Expenditures Price Index (PCE). Even more concerning is the “core” PCE, which doesn’t consider food and energy prices.

The regular PCE was down a tick from 6.4% to 6.2% for August, which is still far too high for comfort for economists.

However, the core PCE saw a rise, from 4.7% to 4.9% annually, according to data from the Bureau of Economic Analysis.

Troubled waters

The PCE data came on the heels of the release of the Consumer Price Index (CPI) numbers, which also pointed to troubles ahead as inflation, under President Biden, continues to burn out of control.

The numbers also came as the Federal Reserve continues a historical rate hike campaign in an attempt to quell rising inflation.

Americans were already hurting, and with the Fed’s actions on interest rates, most economists predict plenty of financial pains ahead for America.

In other words, it will get markedly worse before we begin to see the light at the end of the tunnel.

Necessities skyrocket

Among the categories that the Fed expects to remain high include some of the most crucial — rent, food, and utilities.

Even worse is that energy prices, specifically gas prices for home heating, are expected to continue to rise as many parts of the country begin to experience a fall cooldown, into what could be a brutal winter.

Only time will tell how bad things get, but there’s no doubt that Democrats will be the first to feel the pain in November, when they hopefully take a long list of losses in the midterms.