Gotta disagree with that. Without the fed’s action, we’d have inflation like the 70s and early 80s, when the fed didn’t really do anything. We’d be better off stuck at 10% for years on end?
And I would call it transitory, since we’re basically sub-3% now
What? I’m talking about before Jay Powell increased the M2 money supply by $6 Trillion.
Inflation metrics are year over year. The M2 supply, however was drastically inflated under his tenure, namely 2020-2022. The data you’re citing is completely manipulated.
According to the way the government runs the numbers now, sure, we are about 3%. With the way the government used to run the numbers, which is more accurate, it’s way higher than that.
8% is nationally. Some people had a 1% increase, some may have seen no increase. Your anecdotal evidence doesn’t change that.
As for food, I see prices coming down at my grocery store now. 3% would be YOY since last February. Prices will always go up YOY in general. People tend to do a poor job estimating how much things have gone up because they have older memories of prices.
Have you seen the inflation in peer countries? While I’m feeling the pressure too, the rate is definitely lower than most other places because of the feds actions.
The fact that the comparison is that it’s better than the rest is not a good endorsement. That’s like saying, oh, this spouse abuses me less than the previous one did, so it’s an improvement. Sure, it’s an improvement, but why be abused at all?
Too bad Jerome Powell and Janet Yellen BOTH lied and said inflation “would be transitory”— only to completely backtrack years later.
They have crushed the poor with reckless policy.
Jerome, who is a lawyer and not an economist, has undoubtedly printed everybody’s great grandchildren into indentured slavery.
Gotta disagree with that. Without the fed’s action, we’d have inflation like the 70s and early 80s, when the fed didn’t really do anything. We’d be better off stuck at 10% for years on end?
And I would call it transitory, since we’re basically sub-3% now
Groceries aren’t sub 3%. Energy isn’t sub 3%.
CPI metrics exclude everything consumers actually use. The data is completely finessed.
Most Americans are completely unaware of the 4.5 TRILLION the Fed bailed out Wall Street with in 2019
Fed Finally Identifies Banks that Received $4.5T in Q4 2019 Repo Program
https://tokenist.com/fed-finally-identifies-banks-received-4-5t-q4-2019-repo-program/
Food is under 2%?
Edit: nvm, just above, 2.2%. Still, def under 3
If you honestly believe groceries are only 2.2% higher than they were in 2019/2020, a meaningful discussion is a dubious endeavor.
Oh, you don’t understand inflation at all.
Do you think groceries in 1945 were 3% higher than 1845? Since apparently we’re making meaningless comparisons across years now?
Inflation at 2-3% is good
What? I’m talking about before Jay Powell increased the M2 money supply by $6 Trillion.
Inflation metrics are year over year. The M2 supply, however was drastically inflated under his tenure, namely 2020-2022. The data you’re citing is completely manipulated.
My dude, you do not understand inflation or CPI lol
According to the way the government runs the numbers now, sure, we are about 3%. With the way the government used to run the numbers, which is more accurate, it’s way higher than that.
Not really, no? There’s no index that’s significantly higher than 3%
https://www.shadowstats.com/alternate_data/inflation-charts
This is the way inflation was measured in the 1980s and according to it, we are over ten percent.
CPI-U is 3%:
https://www.bls.gov/news.release/cpi.t01.htm
Well, it may be at 3%, but I certainly don’t believe that the actual number is 3%. I know my cost of energy and food has gone up by more than 3%.
Edit: The government last year said it was 8% yet when I recalculated my energy bill it had increased by 20%
8% is nationally. Some people had a 1% increase, some may have seen no increase. Your anecdotal evidence doesn’t change that.
As for food, I see prices coming down at my grocery store now. 3% would be YOY since last February. Prices will always go up YOY in general. People tend to do a poor job estimating how much things have gone up because they have older memories of prices.
As to the other metrics noted in that article:
https://www.usnews.com/opinion/economic-intelligence/2014/10/17/shadowstats-and-the-alternate-inflation-myth
Have you seen the inflation in peer countries? While I’m feeling the pressure too, the rate is definitely lower than most other places because of the feds actions.
The fact that the comparison is that it’s better than the rest is not a good endorsement. That’s like saying, oh, this spouse abuses me less than the previous one did, so it’s an improvement. Sure, it’s an improvement, but why be abused at all?
Escape the system and use Monero.