Posted on 05/29/2024 12:11:32 PM PDT by ChicagoConservative27
Annual growth of the U.S. money supply in April advanced into positive territory for the first time since November 2022, pushing against the effects of elevated interest rates as inflation hovers above 3 percent.
The comprehensive money supply, known as M2, rose by 0.59 percent annually in April to hit $20.8 trillion after contracting by as much as 4.5 percent a year ago, the Federal Reserve reported Tuesday.
The program of dramatic quantitative easing in response to the pandemic — consisting of dropping interest rates to zero and boosting the money supply — likely staved off a serious depression as the economy was shut down by the pandemic. Huge amounts of stimulus from both the Trump and Biden administrations also played a major role in averting that downturn.
(Excerpt) Read more at thehill.com ...
Positive territory...?
Not good ..Almost good?
Probably true as credit cards hit their limits & loans are not being approved as much.
In 2022 the BLS of the Biden Administration changed the parameters to change inflation percentages. At the time with the old calculations it was over 14% and magically with the new calculations it changed to less than 5%. Any person with a modicum of intelligence spending money at the grocery store can tell it isn’t just barely above 3%. Just about everything one buys these days is between 18 and 30% higher than it was three years ago. And the administration brags that inflation in the US is the lowest in the world...somehow I think they are pissing on my leg and telling me it’s raining.
I need e 37% COLA in my Social Security just to keep up with Joe Biden’s food inflation.
Oh, though a 2 litre of soda 🥤 is on rollback at WalMart for $1 now down from $1.68 which was up from 88 cents under President Donald Trump’s administration.
What crap. Inflation is light years above 3%. Inflation is cumulative. Inflation doesn't start back at 0% every month. The inflation this month is added onto previous months' inflation.
It’s like the illegal invader numbers. At some point the feds admitted that there were 35 million illegals in the country. Then it magically went to 11 million. In reality it is probably closer to 75 million.
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