The official government statistics, or your own lying eyes when you pay for groceries, utilities, taxes, insurance, gasoline, medical bills, clothing, or repairs to anything.
General prices for everything have been rising at a much higher rate than claimed by the official statistics. That is what inflation does. Government causes inflation by debasing the currency to fund excessive spending.
Lowering interest rates is a gimmick to juice the economy before the coming election. It will loot people with savings to the benefit of a small group of people who can get the privileged rates on new loans.
Inflation continues.
You’re painting with a broad brush and in doing so you’re covering up weaknesses in the runaway inflation story.
Natural gas is down 16% in the last 12 months.
Gasoline is down 28%.
Steel is down 17%.
Soybeans are down 26%.
Obviously these are wholesale prices and obviously there are plenty of markets with upward pricing, but its inaccurate to overstate inflation. I wanted to offer the price actions listed above as a counterpoint to the “who are you going to believe” argument, since these are all public, listed markets not susceptible to government manipulation.
(By the way, as to groceries, Adobe’s Digital Price Index showed that the price of groceries purchased online dropped 3.7% in August, the largest one month decline since the index was created ten years ago.)