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Tipsheet

IMF Warns Energy and Inflation Costs Will Rise to 'Intolerable' Levels

AP Photo/Jeff Chiu

The International Monetary Fund is warning people around the world that the worst is yet to come for inflation and energy prices. 

Sky News reported this week the situation will become "intolerable."

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In March, President Joe Biden warned of food shortages

"We did talk about food shortages. It's going to be real. The price of these sanctions is not just imposed upon Russia. It's imposed upon an awful lot of countries as well including European countries and our country as well," Biden said after meetings with NATO.

While Russia's war on Ukraine is exacerbating the problem internationally, Americans have experienced sky high inflation for months. Just last week, another new record was set. 

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Meanwhile, U.S. economists warn of a recession at home as costs continue to exponentially increase. 

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