Ron DeSantis Slams Joe Biden After ‘Brutal Inflation Report Shows a Devastating Increase of 9.1% Year-Over-Year’

Florida GOP Gov Ron DeSantis today slammed Joe Biden after the June inflation report spelled bad news for Americans.

In a tweet, DeSantis reported that the “Brutal inflation report shows a devastating increase of 9.1.% year-over-year.”

“Bidenflation is wreaking havoc on workers, families & small businesses – a consequence of anti-American energy policy, exorbitant borrowing & printing of money & counterproductive federal regulations,” DeSantis declared.

Brutal inflation report shows a devastating increase of 9.1.% year-over-year. Bidenflation is wreaking havoc on workers, families & small businesses – a consequence of anti-American energy policy, exorbitant borrowing & printing of money & counterproductive federal regulations.

— Ron DeSantis (@GovRonDeSantis) July 13, 2022

According to Reuters, the “surprisingly hot” inflation report is “complicating the outlook for markets.”

Investors are now bracing for “more hawkishness from the Federal Reserve and continued volatility in stocks and bonds.”

Wall Street met the number, which showed consumer prices rising by a greater-than-expected 9.1% in June, with a collective groan as the Dow Jones Industrial Average dropped over 200 points.

At one point it was down nearly 500 points before rallying some.

Analysts at Wells Fargo called the report “rotten to the core” while BofA Global Research strategists said it confirmed their recent call for a mild U.S. recession,” Reuters reported.

Following the report, Federal funds futures, which reflect traders’ bets on monetary policy, showed a 70% chance of a supersized 100 basis points rise at the coming meeting, according to data from the CME Group.

Prior to the report, the odds were a roughly one-in-nine chance.

Chris Zaccarelli, chief investment officer at Independent Advisor Alliance explained, “It’s most likely we’re going to have a recession because the Fed is going to have to act aggressively.”