Despite the musings from Biden, his people, and the Credentialed Media that inflation is no big deal and “coming down”, the people who actually know about this stuff know the truth
New inflation reading reinforces Fed’s higher-for-longer stance
Another hot inflation reading reinforces that any near-term interest rate cuts are less likely as the Federal Reserve shifts to a higher-for-longer stance.
The Fed’s preferred inflation measure — the “core” Personal Consumption Expenditures index that excludes volatile food and energy prices — clocked in at 2.8% year over year for the month of March. That was the same level as February but a tenth of a percent higher than expected.
Month over month, the measure of inflation rose 0.3%, which was in line with expectations.
“Today’s data means that it will take a longer string of months of good inflation data before the Fed will be comfortable with cutting,” said Preston Caldwell, chief US economist at Morningstar.
While the rate of inflation is certainly less than it had been, inflation is still much higher than when Trump left office and Biden took office (and inflation immediately skyrocketed). But, consider that if you’re adding 2.8% to a product that is already much higher than pre-Biden, that adds quite a bit to the price. It doesn’t seem like much, but, take a product that was $2. Six percent inflation makes it $2.12. Add 2.8% and you now add another 6 cents. Doesn’t seem like much money, right, but, now add this via all the inflationary increases, and a can of Progresso soup costs around $2.50 when it had been under $1.60 before Bidenflation.
And then add all these inflationary increases to bigger ticket items. And that most things have gone up, meaning the entire cost of living has jump up. And there doesn’t seem to be much relief in sight, and interest rates will stay high
Before last week, investors were still looking at a rate cut in July, while now the odds are 66% that the central bank will hold rates steady that month.
Cutting rates in July “seems a bridge too far now, unless we see both inflation return to 2% in coming months along with a marked deterioration in the economic activity data,” Caldwell added.
Will the Fed try and find an excuse to cut rates to help Biden’s re-election? That’s a question that must be asked. It should also be asked why the Fed waiting way too long to increase rates when it was clear that post-COVID buying was at least back to normal but product availability was not, especially with big money items like vehicles and homes. Then stopped raising rates too early, and then started yammering about cutting them early.
Bidenflation is a tax on the American People, and
- From March 2023 to March 2024, the prices for the following goods surged:
- Food away from home is UP 4.2%
- Electricity is UP 5.0%
- Tobacco and smoking products are UP 6.8%
- Shelter is UP 5.7%
- Hospital services are UP 7.5%
- Transportation services are UP 10.7%
- Motor vehicle insurance is UP 22.2%
- Crackers, bread, and cracker products are UP 3.4%
- Beef and veal are UP 7.6%
- Uncooked beef roasts are UP 11.2%
- Frankfurters are UP 6.2%
- Lettuce is UP 5.8%
- Frozen noncarbonated juices and drinks are UP 27.5%
- Baby food and formula is UP 9.9%
- Care of invalids and elderly at home is UP 14.2%
- Motor vehicle repair is UP 11.6%
And those are just a few things. Add that to all the previous increases.
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Cue h telling us it’s not that bad and everyone can easily afford it.
Wage increases of 4.2% offsets inflation costs. Wages would be higher, and inflation also higher if the millions of new migrant workers were not keeping labor prices low.
The unemployment rate for migrants is not statistically different from native born
Just looked at some real world figures, the Federal Funds rate is flat at around 5.3% and the 6 and 12 month T-bill rates are flat at 5+% where they’ve been for over a year. Money isn’t getting any cheaper. Don’t look for any reduction in real or reported inflation any time soon.
It seems that the people “clamorring” loudest about “Bid are going from those pooer Red States. Maybe they should begin welcoming high paying union jobs? Or doing those things that blue states do to increase household income?
Even in NC 30% of all workers make less than the 15 dollar minimum wage offered to the workers in most blue states.
johnnie boy, you may not be the dumbest guy in the world but you better hope he doesn’t die.
Bullseye, Pups.
H, you are really an elitist. And you’re full of yourself. You really believe you and people in blue states are more important than they are. You also seem to believe that the most important thing in life is money. People live in red states and stay there because they like the lifestyle. They like not being surrounded with crime. They might not like being surrounded with people like you. They don’t wanna be told that they have to drive a Tesla, are not on a gas range, or that they don’t own their own land they have to get a permit to make a coy pond. They also love their God own guns and they’re the type of people that you call insurrectionists when they actually go out and March for their freedom.
Funny thing is when they go out and have a rally they don’t burn down the city, or kill 30 people or steal everything insight. They don’t really care about you they just want you to leave them alone and you can’t even do that. You’re an unhappy person H and you won’t be happy until everybody else is unhappy like you.
You are the quintessential liberal. You thrive on other people’s misery. You’re a very ugly person.
But Carbon boy-you’re all for bringing in illegals which would tend to bring wages down. Can’t choose a side?