Posted on 06/16/2021 4:19:05 PM PDT by John W
The Federal Reserve expects inflation will climb to 3.4 percent this year, higher than the central bank’s previous forecasts, while also projecting for the first time that there could be two interest rate hikes in 2023.
The predictions, released Wednesday after the Fed’s two-day policy meeting, depict a delicate but mostly upbeat narrative of where central bankers think the economy is headed, as well as a serious revamp of predictions from just three months earlier.
In March, the Fed predicted inflation would be 2.4 percent for this year. Moreover, earlier Fed estimates didn’t project an initial interest rate hike until 2024.
(Excerpt) Read more at apple.news ...
Unexpected!
But if it’s just transitory inflation, then that’s not supposed to bad, according to MSNBC.
Actually is on track to be just under 7%. The Amazon Compost is trying to put lipstick on a pig.
Prices went up 3.4% as I was grocery shopping today. $19 for 5 lbs of ground beef.
The press has no shame.
There ya go with the Hillary references again.
I’m trying to forget about her and her makeup.
“More than expected” == unexpected
Unexpected == drink
I paid $32 for St Louis style ribs. I always paid between $12-$18 at most.
âÂÂMore than expectedâÂÂ. Hahahahahahahahah
Hokaaaaaay
“while also projecting for the first time that there could be two interest rate hikes in 2023”
Uhhh yeah, sure. Should be happening sooner than later. Leftists Politics full steam ahead in DC.
*Drink!*
There will be no rate hikes because Jay Powell will be gone when his term expires in February. Look up Lael Brainard she’ll be cranking up the printing presses Zimbabwe style.
$19 for 5lb is pretty typical although it ranges from $15 to $25 depending on the quality on on sale or not and has been that way for 10 years with occassional outliers beyond that range.
Click here and avoid an unecessary trip through Appleland:
https://www.washingtonpost.com/us-policy/2021/06/16/fed-powell-inflation-unemployment-june-meeting/
Is that per year or per month?
Sweet. Since I’m sitting on a cool $150 trillion in Zimbabwe currency I should be able to at least get a sandwich at Subway.
“Actually is on track to be just under 7%. The Amazon Compost is trying to put lipstick on a pig.”
You can pick any number you want, but the official number will not be more than 3.6%. The revised “market basket” will consist of antique radio prices, high-tech items like handheld calculators, and basic raw commodities/staples like sulphur and lead.
I’m old enough to remember when “unexpectedly” was followed with the word “good”….way back when Trump was POTUS.
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