President Joe Biden, his administration and the Fed have been constantly assuring America that the record-breaking inflation is under control. The Bank of America (BofA) doesn’t think so.
“The inflation genie is out of the bottle,” the bank wrote in a research note last week, emphasizing that it could be a long time before it “goes back inside the bottle” and everything comes back to normal.
BofA’s team of analysts headed by Athanasios Vamvakidis found that in cases of inflation above five percent in advanced economies from the 1980s to 2000s, it took 10 years on average to bring inflation back down to two percent. “The consensus still expects G10 inflation to drop to two percent by 2024, but we are concerned it could take longer,” the analysts wrote.
They further said that central banks around the world are actually “not in full control” of inflation, pointing out that policy tightening has its limits.
“Inflation in advanced economies today is much higher than five percent and has not even peaked yet in most cases,” they noted. “We should not necessarily expect that inflation will be back to the two percent target in only a couple of years.”
The analysts said it could take more policy tightening and they did not give an exact timeline for when they believed the country’s inflation could be truly manageable. The team, however, presented two possible scenarios: a positive “soft landing” for the economy if interest rates go down, or a negative “hard landing” if they continue to increase and the Fed is forced to continue to hike interest rates.
While their baseline is leaning toward the positive scenario, the analysts believe that the risks for the negative scenario could not be ignored. They await the rest of the year’s inflation data to help them predict which scenario would unfold.
As of August, inflation was down slightly by 0.2 percent from July’s reading of 8.5 percent, pushing the Fed to implement the third consecutive interest rate hike of 75 basis points last week.
“We do not necessarily expect that it will take a decade to bring inflation down to the two percent target in advanced economies,” the analysts stated in the note. “However, the historic evidence on inflation calls for caution.”
Inflation exhausts the average American family’s budget
In the meantime, American families would have to expend from their own pockets an extra $11,600 this year, according to new estimates by personal finance firm NerdWallet. (Related: Inflation under Biden, Democrats costing Americans more than $11,000 a year per household.)
The estimates were based on inflation and annual spending data from the Bureau of Labor Statistics. The company analysts said they studied how spending would compare this year to 2020 when the Wuhan coronavirus (COVID-19) pandemic began.
If Americans would want to follow the same standard of living they did in 2020, they would need to spend the said extra amount. According to the analysts, 2020 was the “last full year when inflation was relatively stable” at 1.23 percent.
“In all of 2020, American households spent $61,300, on average. This number includes everything we spend our money on housing, food, entertainment, clothing, transportation and everything else,” they wrote.
The analysts added that in 2022, it stands to reach $72,900 if consumers want to maintain the same standard of living.
Visit Inflation.news for more news related to the highest inflation recorded in the U.S. in four decades.
Watch this video that explains how the government – not corporations – is causing inflation.
This video is from the InfoWars channel on Brighteon.com.
More related stories:
- Inflation forces Americans to rely on credit cards for daily expenses.
- Glenn Beck: COVID-19 pandemic is over, inflation has hardly risen – in Biden’s mind.
- Fox News reporter interrupts Biden’s Inflation Reduction Act speech to give live REALITY CHECK.
- Pain in the pocketbook: Inflation worsened in August as grocery prices continue to skyrocket in Biden’s economy.
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Three Reasons a Coffee Gift Set From This Christian Company Is Perfect for Christmas
When you’re searching for a Christmas gift that’s meaningful, useful, and rooted in faith, you don’t want to settle for anything generic. This season is filled with noise — mass-produced products, last-minute picks, and trends that fade as quickly as they appear. But one gift stands apart because it blends genuine quality with a message that matters: a coffee gift set from Promised Grounds Coffee.
This small Christian-owned company has become a favorite among believers who want to support faith-driven businesses while giving friends and family something they’ll actually enjoy. Here are three reasons a Promised Grounds Coffee gift set may be the most thoughtful and impactful present you give this year.
1. It’s Truly Delicious Coffee
Too many “gift-worthy” coffees look beautiful in the package but disappoint when the cup is poured. Promised Grounds takes the opposite approach — exceptional taste first, thoughtful presentation second.
Their beans are sourced with care, roasted in small batches, and crafted to bring out a rich, smooth flavor profile that appeals to both casual drinkers and true coffee lovers. Whether someone enjoys bold, dark roasts or lighter, more delicate blends, every sip reflects quality that stands shoulder-to-shoulder with the biggest specialty brands.
Simply put: this coffee is good. Really good. Some say it’s absolutely fantastic. If you want a gift that won’t be re-gifted, ignored, or shoved in a cabinet, this is it.
2. It Spreads the Word While Serving a Real Purpose
There are many Christian gifts that are meaningful… but not exactly practical. There are also useful gifts that have nothing to do with faith. Promised Grounds Coffee bridges both worlds beautifully.
Each gift set delivers an encouraging, faith-centered message through its packaging and presentation — a simple but powerful reminder of God’s goodness during the Christmas season. The cups are especially popular and serve as a daily reminder of the blessings from our Lord. At the same time, the product itself is something people will actually use and appreciate every single day.
It’s a gift that uplifts the spirit and fills the mug. A gift that points loved ones toward Scripture while still being part of the normal rhythm of life. And in a culture that increasingly pushes faith to the margins, giving a gift that quietly but confidently honors Christ can make a deeper impact than you might expect.
3. It’s Affordable, Valuable, and Elegantly Presented
Many people want to give something meaningful without breaking their Christmas budget. Promised Grounds Coffee strikes that perfect balance — the sets look and feel premium, but the price remains accessible.
The packaging is classy, clean, and gift-ready, making it ideal for:
- Family members of all ages
- Co-workers or employees
- Church friends or small-group leaders
- Hosts, neighbors, and last-minute gift needs
It’s the kind of gift that feels more expensive than it is — and more thoughtful than most of what you’ll find on store shelves.
The Perfect Blend of Faith, Flavor, and Christmas Cheer
A coffee gift set from Promised Grounds Coffee checks every box: a gift that tastes amazing, conveys your faith, supports a Christian business, and brings daily enjoyment to the person who receives it. In a season when so many gifts are forgotten, this one stands out for all the right reasons.
If you want a Christmas present that reflects your values and delivers genuine joy, Promised Grounds Coffee is the perfect place to start.
Of course, those BofA ass-clowns helped pull the cork out of that bottle in a big way.