Quote:The pace of price increases over the past year took an unexpected step higher in September as policymakers contemplate their next move on interest rates, according to a Labor Department report Thursday. ...

In other economic news Thursday, initial filings for unemployment benefits took an unexpected turn higher, hitting 258,000 for the week ending Oct. 5. That was the highest total since Aug. 5, 2023, a gain of 33,000 from the previous week and well above the forecast for 230,000.

https://www.cnbc.com/2024/10/10/cpi-infl...-2024.html

MISERY LOVES COMPANY

I thought Tommy and his heroes Joe and Kamala have told us the economy is in great shape and there’s record low unemployment

Core inflation up 3.3% and overall inflation up 2.4% - higher than expected.

https://www.wsj.com/economy/central-bank...pper_pos_1

Keep in mind the Fed's purported goal is 2% average inflation over a period of time and inflation has averaged well above 2% after Biden's election.

If the Feds lower rates again soon or signal lower rates soon, then it is clearly for political reasons.

Cutting the rate, especially two basis points was very premature. There has been no decline in inflation for the past 4 months when you look at the numbers year over year. Lowering the rate that much may increase inflation through the rest of the year. October '23 inflation was only 3.2% as compared to August and September '23 being 3.7%. So when the October '24yoy number comes out, which will happen after the election, and it is well above 3%, it will get bad.

And they did a 50 basis point reduction......

f*cknuts...

Quote:The annual inflation rate was 0.1 percentage point lower than August and is the lowest since February 2021 (1.7%).

3 1/2 years above fed target: 2%

TAKES ITS TOLL

Keep in mind these are government numbers. It’s bound to be much worse. If Trump makes it alive to the Oval Office we will hear this is all his fault for hour after hour on the Pravda networks. It’s not going to be good in any way. Get ready for true chaos whatever happens in November.

(10-10-2024 09:12 AM)Was SoMs Eagle Wrote:  Keep in mind these are government numbers. It’s bound to be much worse. If Trump makes it alive to the Oval Office we will hear this is all his fault for hour after hour on the Pravda networks. It’s not going to be good in any way. Get ready for true chaos whatever happens in November.

The adjustments throughout the Obama and Biden administrations almost always have shown things worse. Curiously, things were often better than the initial stats during the Trump administration. Wonder why?

The lower inflation is nothing for democrats to pat themselves on the back about. Prices are still much higher than December 2020 and that lower inflation rate is against their higher baseline. Until wages catch up which absent high inflation again will take about 4 years.

(10-10-2024 10:06 AM)THE NC Herd Fan Wrote:  The lower inflation is nothing for democrats to pat themselves on the back about. Prices are still much higher than December 2020 and that lower inflation rate is against their higher baseline. Until wages catch up which absent high inflation again will take about 4 years.

Wages have outpaced inflation since February of 2023.
https://www.statista.com/statistics/1351...ry%202023.

(10-10-2024 10:09 AM)Redwingtom Wrote:  

(10-10-2024 10:06 AM)THE NC Herd Fan Wrote:  The lower inflation is nothing for democrats to pat themselves on the back about. Prices are still much higher than December 2020 and that lower inflation rate is against their higher baseline. Until wages catch up which absent high inflation again will take about 4 years.

Wages have outpaced inflation since February of 2023.
https://www.statista.com/statistics/1351...ry%202023.

Break that out by income level and see what happens.

(10-10-2024 10:06 AM)THE NC Herd Fan Wrote:  The lower inflation is nothing for democrats to pat themselves on the back about. Prices are still much higher than December 2020 (1.36%) and that lower inflation rate is against their higher baseline. Until wages catch up which absent high inflation again will take about 4 years.

jan 2021 (1.4%)

REVISIONIST HISTORY

(10-10-2024 10:20 AM)green Wrote:  

(10-10-2024 10:06 AM)THE NC Herd Fan Wrote:  The lower inflation is nothing for democrats to pat themselves on the back about. Prices are still much higher than December 2020 (1.36%) and that lower inflation rate is against their higher baseline. Until wages catch up which absent high inflation again will take about 4 years.

jan 2020 (1.4%)

REVISIONIST HISTORY

lulz, I'm not sure why Tom decided to post that propaganda since it was blatantly false. Thats about as bad as Biden* saying the inflation rate was 9% when Trump left office.

(10-10-2024 09:51 AM)Redwingtom Wrote:  

I thought you blamed inflation on the pandemic a few months back?

That tweet is so funny. It's literally an apples to oranges comparison.

A 3.2% rate when prices remained low for several years, coming off lockdowns in a pandemic year.

Currently a 1.6% rate, but that's accounting for a cumulative inflation increase of 16% since 2021 and interest rates being hiked to 5% to achieve that rate.

It's not fooling anybody with a brain.

(10-10-2024 10:37 AM)WalkThePlank Wrote:  I thought you blamed inflation on the pandemic a few months back?

Yeah, when inflation went to 9%, that was because of Covid. 3% inflation, while still higher than the 2% target, is fairly sustainable when wages are outpacing it and unemployment is low.

(10-10-2024 10:45 AM)WalkThePlank Wrote:  That tweet is so funny. It's literally an apples to oranges comparison.

A 3.2% rate when prices remained low for several years, coming off lockdowns in a pandemic year.

Currently a 1.6% rate, but that's accounting for a cumulative inflation increase of 16% since 2021 and interest rates being hiked to 5% to achieve that rate.

It's not fooling anybody with a brain.

Yeah, we get that. The problem is that many on the right actually think trump did something to moderate inflation.

(10-10-2024 10:50 AM)Redwingtom Wrote:  

(10-10-2024 10:45 AM)WalkThePlank Wrote:  That tweet is so funny. It's literally an apples to oranges comparison.

A 3.2% rate when prices remained low for several years, coming off lockdowns in a pandemic year.

Currently a 1.6% rate, but that's accounting for a cumulative inflation increase of 16% since 2021 and interest rates being hiked to 5% to achieve that rate.

It's not fooling anybody with a brain.

Yeah, we get that. The problem is that many on the right actually think trump did something to moderate inflation.

Can you provide an example of this?

Quote:The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.4%.

YoY (YEAR OVER YEAR)