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🌡️ Inflation

In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed's barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed's target of 2%!

In June, folks earned a bit more in, spent more, causing PCE, excluding food and energy (the Fed's barometer for if inflation is still growing) to jump up .2% for the month and 4.1% year-over-year. Still more than DOUBLE the Fed's target of 2%!

https://www.bea.gov/news/2023/personal-income-and-outlays-june-2023 Wut mean?: * In June, people earned $69.5 billion more, which is a 0.3% monthly rise--more money earned more money to spend, adding to inflation... * Prices of things people bought (PCE price index) went up slightly by 0.2%. Even if we

Inflation Alert! It looks like the Fed's favorite tool to control inflation (interest rate hikes) is breaking from all the times the Fed's thumb has been put on the scale.

Good evening Suprestonk! I would like to review some data with you to show that interest rate hikes are not working. What we are going to review: 1. Initial Jobless Claims 2. Retail Sales are still going up and Consumers are still spending 3. Corporate Interest Payments Before we dive

Inflation Alert! Memorial Day barbecue 'essentials' have JUMPED 28% since last year. Even long weekends getting squeezed by inflation.

Source: https://datasembly.com/grocery-price-index/ Datasembly found that barbecue staples are more expensive than they were last year, with condiment prices leading the charge. The price of a 32-ounce bottle of ketchup has increased 28% since this time last year, going from $4.08 to $5.22, and a 20-ounce

Fed's Economic Well-being US Household 2022: "fewer adults reported having money left over after paying their expenses. 54% of adults said that their budgets had been affected "a lot" by price increases."

Fed's Economic Well-being US Household 2022: "fewer adults reported having money left over after paying their expenses. 54% of adults said that their budgets had been affected "a lot" by price increases."

"51% of adults reported that they reduced their savings in response to higher prices." https://www.federalreserve.gov/publications/files/2022-report-economic-well-being-us-households-202305.pdf The Federal Reserve Board on Monday issued its Economic Well-Being of U.S. Households in 2022 report, which examines the financial lives of U.S. adults

Inflation Alert! St. Louis Fed’s James Bullard backs two more hikes. Bullard would have central bank push interest rates up to 5.5%-5.75% range

Sources: https://www.marketwatch.com/story/feds-bullard-backs-two-more-hikes-359fb941: St. Louis Fed President James Bullard on Monday said he would like to see two more quarter-percentage-point interest-rate hikes this year. “I think we’re going to have to grind higher with the policy rate in order to put downward pressure on inflation,

Inflation Alert! Cleveland Fed Governor Loretta J. Mester believes interest rates should go higher:

"And so the question, you know, in my mind is have we gotten to that rate yet? And at this point, given the data we've gotten so far, I would say no, I don't think we're at that rate yet." https://www.

Inflation Alert! Fed Governor Philip N. Jefferson: "if you are willing to widen your lens to include a more commonplace definition, then it is possible to conclude that current monetary policy is, in fact, "on track.""

"The bad news is that there has been little progress on core inflation." https://www.federalreserve.gov/newsevents/speech/jefferson20230512a.htm On the Assessment of Current Monetary Policy Governor Philip N. Jefferson At the "How to Get Back on Track: A Policy Conference," Hoover Institution, Stanford,