When visiting Shrewd'm with a laptop, it can be pleasant to hold Command (or Ctrl with Windows) and '+' a few times. The site scales to allow any font size, and the larger font can be pleasant to read even for Shrewds with perfect sight! For luxury Shrewdness, you can combine that with setting the browser to full screen. You'll then find yourself Shrewding a lot.
- Manlobbi
Outskirts of Shrewd'm / Travel Wanderer
No. of Recommendations: 7
So I guess I didn't pay 50% more for coffee beans today than I did 6 months ago.
https://apnews.com/article/trump-inflation-federal...
Inflation has risen in three of the last four months and is slightly higher than it was a year ago, when it helped sink then-Vice President Kamala Harris’ presidential campaign. Yet you wouldn’t know it from listening to President Donald Trump or even some of the inflation fighters at the Federal Reserve.
Trump told the United Nations General Assembly late last month: “Grocery prices are down, mortgage rates are down, and inflation has been defeated.”
And at a high-profile speech in August, just before the Fed cut its key interest rate for the first time this year, Federal Reserve Chair Jerome Powell said: “Inflation, though still somewhat elevated, has come down a great deal from its post-pandemic highs. Upside risks to inflation have diminished.”
Yet dismissing or even downplaying inflation while it is still above the Fed’s target of 2% poses big risks for the White House and the Federal Reserve. For the Trump administration, it could find itself on the wrong side of a potent issue: Surveys show that many Americans still see high prices as a major burden on their finances.
No. of Recommendations: 0
Yet dismissing or even downplaying inflation while it is still above the Fed’s target of 2% poses big risks for the White House and the Federal Reserve. For the Trump administration, it could find itself on the wrong side of a potent issue: Surveys show that many Americans still see high prices as a major burden on their finances.
I am reminded of an old Microsoft joke:
How does Bill Gates change a light bulb?
He declares darkness a new standard.
Steve
No. of Recommendations: 3
On the subject of inflation--good metrics, and the relationship between perceptions and monetary effects--I'm a fan of following the "MCT inflation" figures.
I wrote a bit about that in the second half of this post
https://www.shrewdm.com/MB?pid=834165977"... This is based on the notion that the inflation for any product is the sum of (a) a single global monetary inflation amount in the period, plus (b) a factor specific to that product category. So, for 100 product categories, you get 101 factors: one for each category, and one to rule them all.
Go here and click on the graph to see the latest figures. https://www.newyorkfed.org/research/policy/mct#--:...
Latest number year-on-year is 3.05%. Basically top of the flattish range since mid 2023..."Jim
No. of Recommendations: 4
Mungofitch says, "I'm a fan of following the "MCT inflation" figures."
That is an interesting idea for analyzing (and possibly - or not - predicting) future household spending for planning purposes.
But the CPI has direct, immediate impact on inflation-adjusted bonds (TIPS and I-Bonds) and also the COLA for Social Security. Regardless of "MCT inflation" or PCE inflation (which the Federal Reserve prefers for their discussions) the CPI has the most practical impact on households that rely on inflation-adjusted income.
Wendy
No. of Recommendations: 0
A gallon of gasoline at Costco is $2.55. Means a lot, but it is not conclusive.
Trump may be right, inflation is conquered. At what cost is he right? That is the problem.
No. of Recommendations: 0
Is there a list of the product categories that are included in MCT figure? Is it an average of averages?
No. of Recommendations: 0
Trump may be right, inflation is conquered.
IMO, not even close.
Many impacts of tariffs are being delayed/changed/etc, particularly when it comes to increasing consumer pricing on a wide variety of goods (auto, food, housing, etc). Plus, with no real CPI being tracked, it is all "feeling", no facts. The only time to NOT want facts is when you want to eliminate the ability of the public to determine actual costs/prices.
No. of Recommendations: 1
A gallon of gasoline at Costco is $2.55.
... and about $7.20 - $7.90 where I live ...
Of course, well over half of that is various taxes and duties including a carbon tax.
No. of Recommendations: 1
And, back in 1966, was between $.23-$.26 USD a gallon - about the same price as a pack of cigarettes.
Jeff
No. of Recommendations: 0
At what cost is he right? That is the problem.
