Posted on 03/14/2023 7:15:42 AM PDT by Kaiser8408a
The Federal Reserve is some hard thinking to do. Inflation came in hotter than expected, so raise rates to fight inflation or lower rates to prevent bank contagion. Similar to Kevin Malone’s “Double fudge brownies or Angela” debate.
While headline inflation (CPI) came in a 6% (considerably higher than The Fed’s 2% target), core inflation came in at 5.5% year-over-year (YoY), which was expected.
The truly nasty number is today’s inflation report is that weekly earnings YoY remained the same at a terrible -1.9%. Meaning that inflation is higher than nominal wage growth. This is the 23rd straight month of negative real weekly earnings. Well done, Fed and Biden!
On the news, the US Treasury 2-year yield rose 34.3 basis points.
Somehow I doubt that Biden’s press secretary will tout 23 straight months of negative weekly earnings growth as one of Biden’s economic accomplishments.
(Excerpt) Read more at confoundedinterest.net ...
But at least there are no more mean tweets. /sarc.
> Inflation came in hotter than expected… <
Looks to me like someone forgot to normalize the data, then make seasonal adjustments.
You know, apply all those tricks to manipulate the data and so fool the peasants.
“US Inflation Comes In Hotter Than Expected”
A couple of threads down:
“Consumer prices rose 6 percent annually in February as inflation eased”
The Hill
Hotter? Don’t they mean: worse?
Even when the Democrat-media admits a problem with Democrats they soften the blow with weasel words.
“Unexpected!”
L
YoY!
[”hotter than expected”] == [”worse than the MSM reported”]
While the talking heads are saying inflation is going down, here is the reality.
In Dec 2020 CPI was 260.474
In Feb 2023 CPI was 300.840
CPI is now 15.5% higher today than it was when Biden took office.
As Reagan would say: “Are you better off today than you were two years ago?”
Depends who you ask. Democrat Politicians are happy as pigs rolling in sh!t with all the federal money rolling into their donor’s pockets. Which in turn ROLLS DIRECTLY INTO THEIRS.
The rest of us, we are screwed.
Here’s another option no one talks about. Government spending is a primary source of inflation. Massively cut government spending and maintain current interest rates.
By the way, the Fed is officially back to quantitative easing to bailout banks. That’s another source of inflation. Cut that chit out now. These people are eff’n morons. Let banks fail and allow capitalism’s consequences destroy those unprepared. That leads to quicker recovery. Stop printing money.
The same people who voted for Biden are the same people getting hurt most by inflation. But stupid people will keep repeating mistakes not knowing they are making a mistake.
Wait, I’m confused. The market is up today on this headline:
U.S. stocks are rising after inflation data fuels hopes on lower rate…
Stock Markets
By Liz Moyer Investing.com — U.S. stocks were rising after inflation data met expectations, fueling hopes for a smaller interest...
What are we supposed to believe?
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