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Inflation figure that the Fed follows closely hits highest level since January 1982
CNBC ^ | July 29, 2022 | Jeff Cox

Posted on 07/29/2022 7:12:19 AM PDT by abb

The personal consumption expenditures price index rose 6.8% in June, the biggest 12-month move since the 6.9% increase in January 1982.

Excluding food and energy, so-called core PCE increased 4.8% from a year ago, up one-tenth of a percentage point from May.

The employment cost index, another figure Fed policymakers follow closely, rose 1.3% in the second quarter. The index climbed 5.1% on a 12-month basis, a record for data series that goes back to 2002.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Front Page News; Government; News/Current Events
KEYWORDS: anwr; bidendidthis; bidenflation; fed; inflation; interest; keystonexl; opec
This just in.
1 posted on 07/29/2022 7:12:19 AM PDT by abb
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To: abb

bttt


2 posted on 07/29/2022 7:12:40 AM PDT by BenLurkin (The above is not a statement of fact. It is either opinion, or satire, or both.)
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To: abb

Pudding drawers: “Remain calm, all is well.”


3 posted on 07/29/2022 7:14:44 AM PDT by Huskrrrr (Alinsky, you magnificent Bastard, I read your book!)
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To: BenLurkin

Bloomberg: “Larger-than-forecast”

The new “unexpectedly.”


4 posted on 07/29/2022 7:14:44 AM PDT by abb
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To: abb

Transitory.
No recession.

Confirmed.
/s


5 posted on 07/29/2022 7:18:16 AM PDT by cranked
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To: abb

Now worries. Politico is trumpeting Biden’s success and the incredible turn around. The masses will believe it.

War is peace - 1984


6 posted on 07/29/2022 7:21:05 AM PDT by brownsfan (It's going to take real, serious, hard times to wake the American public.)
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To: abb

It’s all Trump and Putins fault.


7 posted on 07/29/2022 7:21:16 AM PDT by HighSierra5 (The only way you know a commie is lying is when they open their pieholes.)
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To: abb

Nothing to see here. Move along now.


8 posted on 07/29/2022 7:22:27 AM PDT by Starboard
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To: abb

What difference does it make? They will just deny and lie their way out of it and the lap dog media will play along.

Call me when they start putting ANY of these people IN JAIL.


9 posted on 07/29/2022 7:24:49 AM PDT by faucetman (Just the facts, ma'am, Just the facts )
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To: abb

But raising taxes on businesses and spending more money we don’t have will reduce inflation.

Please see my tagline.


10 posted on 07/29/2022 7:41:27 AM PDT by jdsteel (Do I really need a /sarc?)
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To: abb

I am scratching my head on this one. Of course the consumer is “spending” more—everything costs more.

Do they “deflate” this number by the CPI? I would think that would be the only way to gauge if the consumer is actually spending “more” money.


11 posted on 07/29/2022 7:47:43 AM PDT by Vermont Lt
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To: Huskrrrr

Biden says no recession. Puddin’ head could be standing in the middle of the Donbas and not hear a sound.


12 posted on 07/29/2022 7:49:49 AM PDT by donozark (Joe Biden: Dazed and confused. But mostly just confused.)
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To: abb

If you take out the things that are going up in price, there really is no inflation. FJB


13 posted on 07/29/2022 8:33:07 AM PDT by pas
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To: Vermont Lt

...if the consumer is actually spending “more” money....
_____________________________

Observation:

People are stocking up and not just on food. ebikes, generators, winter clothing, supplements, medications, anything one might need in the foreseeable future that will either cost more or be in shortage is being purchased ahead of time.

Everyone can see that the government is determined to starve the people out, to make alternative healthcare vanish, etc, etc.

The admin/legacy state media will spin it as people having excess cash and wantonly spending it on frivolity: “See, all is well as consumers continue to increase their consumption.”

Meanwhile, everyone is trying to prepare. It’s a race between eventually worthless currency and future unmet needs with nothing available to purchase.


14 posted on 07/29/2022 9:38:59 AM PDT by reformedliberal (Make yourself less available.)
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To: brownsfan

(War is peace - 1984)

‘1984’ certainly describes the times we live in


15 posted on 07/29/2022 9:58:15 AM PDT by SaveFerris (The Lord, The Christ and The Messiah: Jesus Christ of Nazareth - http://www.BiblicalJesusChrist.Com/)
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To: abb

Ouch.

This is worse than about anyone fed or MSM predicted.

Wonder what inflation would be if measured by 1980 statistics? 25%?


16 posted on 07/29/2022 11:34:44 AM PDT by Basket_of_Deplorables (Putin is behaving rationally.The war is on Biden and Obama. )
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To: Vermont Lt
They are not though trying to add to inflation. link: Manchin and Schumer want to spend a lot more
17 posted on 07/29/2022 12:20:53 PM PDT by ding_dong_daddy_from_dumas (Re-imagine the media!)
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To: abb
That is an indicator of how much the standard of living has dropped.


18 posted on 07/29/2022 2:00:19 PM PDT by BeauBo
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To: abb

19 posted on 07/30/2022 7:36:15 AM PDT by caww (O death, when you seized my Lord, you lost your grip on me......Augustine)
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To: caww

At least one of those was probably paid for, in part, with some cash from those pallets sent to Iran.


20 posted on 08/03/2022 8:21:50 AM PDT by Rurudyne (Standup Philosopher)
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