Ex-CEO Warns Inflation and Mass Layoffs Reveal ‘Tremendous Shift’ in Economy

Published on February 13, 2024

A former top corporate executive warned that the economy doesn’t appear to be on a fast path to recovery due to higher-than-anticipated inflation and recent mass layoffs. The Consumer Price Index (CPI) increased 0.3 percent last month after gaining 0.2 percent in December, the Labor Department’s Bureau of Labor Statistics revealed. Shelter, which includes rents, accounted for more than two-thirds of the rise in the CPI. On a year-by-year basis, the rate increased 3.1 percent. “We’ve seen companies where we’ve had $2 million of interest rates now explode to $12, $13, $14 million. And the free cash flow that we generate is going to pay the man,” former Home Depot and Chrysler CEO Bob Nardelli told Fox Business on Tuesday. “We cannot afford the type of interest rates that we’re buried [in] today. I mean, you couldn’t afford it as an individual in trying to balance your budget.”...

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Chris Hobbs: Police Are in an Impossible Situation, and Have a Massive Problem With Morale | British Thought Leaders

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