Inflation Alert! Social Security benefits and Supplemental Security Income payments for approximately 70 million Americans will increase 8.7 % in 2023, Social Security announced today.


The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Laborโ€™s Bureau of Labor Statistics.

July FOMC Minutes: 'Apparent absence of a wage-price spiral.'

Yesterday's FOMC minutes: 'A number of participants commented that a wageโ€“price spiral had not yet developed but cited its possible emergence as a risk.'

In macroeconomics, a wage-price spiral is a proposed explanation for inflation, in which wage increases cause price increases which in turn cause wage increases, in a positive feedback loop.

u/peruvian_bull today: The wage price spiral has begun. Inflation has momentum. They'll need a Great Depression to stop it.

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