To: reed13k
many economists as well as policymakers at the Federal Reserve expect the increase to be temporary
Translation--they will create a new calculation for the CPI that eliminates any embarrassing increases...
19 posted on
04/13/2021 9:14:15 AM PDT by
cgbg
(A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
To: cgbg
“Translation—they will create a new calculation for the CPI that eliminates any embarrassing increases... “
...and why not? It’s worked before. Several times.
25 posted on
04/13/2021 9:27:47 AM PDT by
The Antiyuppie
(When small men cast long shadows, then it is very late in the day.)
To: cgbg
They do that anyway. Say they have steak in the ‘basket’. If steak goes up 50% they’ll pull steak out and substitute it with pork chops. Their rational is ....’because that is what ordinary people would do. They’ll stop eating steak and start eating pork chops. They are always substituting stuff to keep the price of what they call the ‘basket’ down.
28 posted on
04/13/2021 9:31:25 AM PDT by
sheana
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