Quote:Inflation was hotter than expected across the US last month as it continues to fall back from its highest levels in a generation.

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

The latest official data sparked a pre-market sell-off on Wall Street before New York opened for trading on Tuesday.

https://www.theguardian.com/business/202...te-january

STUBBORN AS A MULE

(02-13-2024 09:02 AM)green Wrote:  

Quote:Inflation was hotter than expected across the US last month as it continues to fall back from its highest levels in a generation.

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

The latest official data sparked a pre-market sell-off on Wall Street before New York opened for trading on Tuesday.

https://www.theguardian.com/business/202...te-january

STUBBORN AS A MULE

Wait You are not the resident Economic indicator thread starter...

Oh wait, it wasn;t good news for Biden... carry on

But, but, but Tom says....

Not sure if y'all are paying attention, but Gas prices are up 30-40 cents in the last 15 days too.

That is not going to help Feb's numbers either.

I’m afraid the spiral is just beginning.

Later this summer if this administration sees the handwriting on the wall, they could well begin a scorched earth campaign to leave the country in the worst shape possible come January ‘25.

Watch the decisions being made. If they don’t make sense for our Nation’s future, you’ll know what the plan is.

And last night the Senate passed a $90billion bill to send money overseas. That should help out. We're doomed.

Who in hell do these people think they are?

Quote:Speaker Mike Johnson (R-La.) rejected a bipartisan Senate proposal providing aid to Ukraine and other foreign allies Monday, raising new questions about how — or if — Congress will adopt the assistance ahead of November’s elections.

“[In] the absence of having received any single border policy change from the Senate, the House will have to continue to work its own will on these important matters,” Johnson said Monday night in a statement. “America deserves better than the Senate’s status quo.”


https://thehill.com/homenews/house/44637...id-rebuff/

ALL IS NOT LOST

(02-13-2024 09:05 AM)Eldonabe Wrote:  Not sure if y'all are paying attention, but Gas prices are up 30-40 cents in the last 15 days too.

Yes, it has locally in many places, but the average price didn't jump that much, yet.

The main reason is because of an increase in demand which we don't usually see this time of year. That likely can be attributed to the warmer weather and minimal snowfall we're having in most of the Midwest, which is not restricting travel.

(02-13-2024 09:03 AM)BartlettTigerFan Wrote:  But, but, but Tom says....

What exactly did I say? Where and when?

Thanks.

#RentFree

(02-13-2024 09:03 AM)Eldonabe Wrote:  

(02-13-2024 09:02 AM)green Wrote:  

Quote:Inflation was hotter than expected across the US last month as it continues to fall back from its highest levels in a generation.

Price growth dropped to an annual rate of 3.1% in January, according to official data; above economists’ expectations of 2.9%. In December, the consumer price index stood at 3.4%.

The latest official data sparked a pre-market sell-off on Wall Street before New York opened for trading on Tuesday.

https://www.theguardian.com/business/202...te-january

STUBBORN AS A MULE

Wait You are not the resident Economic indicator thread starter...

Oh wait, it wasn;t good news for Biden... carry on

Oh wait...you think because I didn't start a thread that it was because this was perceived to be bad news for Biden.

Care to prove that?

Please provide the time proof of when I first visited this site today, as well as when I first learned what the numbers were.

Anyway, since you are SO concerned about me...I was working on time sensitive information with my actual job (which is not being paid to post here ) this morning and only first saw this information about 20 minutes ago.

#RentFree

(02-13-2024 10:04 AM)Redwingtom Wrote:  

(02-13-2024 09:05 AM)Eldonabe Wrote:  Not sure if y'all are paying attention, but Gas prices are up 30-40 cents in the last 15 days too.

Yes, it has locally in many places, but the average price didn't jump that much, yet.

The main reason is because of an increase in demand which we don't usually see this time of year. That likely can be attributed to the warmer weather and minimal snowfall we're having in most of the Midwest, which is not restricting travel.

wait til driving & hurricane season ...
gas prices peak labor day ...
coincidentally, unofficial campaign kick-off ...

CHILI OIL

I'm sure the *Biden* team is working on a way to spin this as a good thing. Or just do what they always do and blame it on Trump or the Republicans.

(02-13-2024 10:16 AM)bearcatfan Wrote:  I'm sure the *Biden* team is working on a way to spin this as a good thing. Or just do what they always do and blame it on Trump or the Republicans.

Well, didn't the annual rate actually DROP? Yes, it didn't meet the forecast and is still more than the fed would like, but it did still drop.

I'm sure glad you aren't my financial advisor

How could INFLATION still be a problem? Didn’t our brain trust in DC pass a bill called THE INFLATION REDUCTION ACT?

Stop spending like drunken sailors on foreign wars and neglecting your own house might actually be a good start to taming inflation.

(02-13-2024 10:56 AM)BartlettTigerFan Wrote:  I'm sure glad you aren't my financial advisor

He’d be great for new additions to your fifth wheel you’d be living out of.

He actually believes his incremental raises are keeping up with inflation.

Blue koolaid drinker

(02-13-2024 10:55 AM)Redwingtom Wrote:  

(02-13-2024 10:16 AM)bearcatfan Wrote:  I'm sure the *Biden* team is working on a way to spin this as a good thing. Or just do what they always do and blame it on Trump or the Republicans.

Well, didn't the annual rate actually DROP? Yes, it didn't meet the forecast and is still more than the fed would like, but it did still drop.

If you isolate that one statistic, it's not the end of the world.

But, the implication of having inflation come in higher (despite relatively sky high interest rates) than expected doesn't bode well for future rate cuts which effects everything else.