The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 10, 2024, 01:15:28 pm
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Hot prices: Inflation rose to 3.5% in March in bad news for Biden and Fed
By
Zachary Halaschak
April 10, 2024 8:33 am
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Inflation rose to 3.5% for the year ending in March, the Bureau of Labor Statistics reported Wednesday in an update to the consumer price index.
The rise in headline inflation is more than expected and an unwelcome development for the Federal Reserve, which has been aiming to move toward cutting interest rates in the coming months. It’s also bad news for President Joe Biden. The White House has been emphasizing recent declines in inflation, alongside the robust labor market, as “Bidenomics” in action.
The Fed has worked to drive down inflation for two years now by raising interest rates. Wednesday’s report casts uncertainty over the timing of the Fed beginning to trim rates.
On a month-to-month basis, inflation rose 0.4%, more than expected.
“There is no improvement here; we’re moving in the wrong direction,” said Greg McBride, chief financial analyst at BankRate. “The usual trouble spots persist — shelter, motor vehicle insurance, maintenance, and repairs, services costs. Add electricity to that list, up 0.9% in March and 5% over the past year.”
“Core inflation,” which doesn’t include volatile food and energy prices, remained at 3.8% for the year ending in February. Overall, core inflation has largely trended down this year in an indication that the Fed’s tightening is working.
more
https://thehill.com/business/personal-finance/4583123-march-2024-consumer-price-index-inflation/
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And nothing is going to change until there is a real serious effort to address our unsustainable fiscal and monetary policy
Some here get sick of some of us preaching this over and over again, but it’s our only way out. Without a change, forget it
And just yesterday Yellen was telling us how inflation was coming down to 2%
I guess inflation disagreed with her
These people are so inept it hurts
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Inflation unexpectedly rises to 3.5% - plunging Dow Jones down 450 points and all but ruling out a summer cut to interest rates
DAILYMAIL.COM and REUTERS
By HELENA KELLY
10 April 2024
- The rate of annual inflation rose to 3.5 percent in March, new data shows
- Prices were pushed up by the cost of shelter and vehicle insurance
- The Dow Jones plummeted 500 points within minutes of the news
(more)
https://www.dailymail.co.uk/yourmoney/consumer/article-13292743/Inflation-upticks-slightly-3-5-analysts-expectations.html
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Inflationary energy policy + inflationary fiscal policy = record gold prices
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Inflation unexpectedly rises to 3.5% - plunging Dow Jones down 450 points and all but ruling out a summer cut to interest rates
DAILYMAIL.COM and REUTERS
By HELENA KELLY
10 April 2024
- The rate of annual inflation rose to 3.5 percent in March, new data shows
- Prices were pushed up by the cost of shelter and vehicle insurance
- The Dow Jones plummeted 500 points within minutes of the news
(more)
https://www.dailymail.co.uk/yourmoney/consumer/article-13292743/Inflation-upticks-slightly-3-5-analysts-expectations.html
The market will make those up in a few days when the panic sellers have lost their shit
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The Fed has enough breathing room for a 0.125% or 0.25% raise.
0.50% or 0.75% risks more bank insolvencies.
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The market will make those up in a few days when the panic sellers have lost their shit
The market needed this correction. Corrections are healthy.
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Inflation rose to 3.5% in March in bad news for Biden and Fed
Bad news for the Fed? They are 100% responsible for it.
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In the last quarter, our government ran up $800 billion in debt while our economy only grew $325 billion. Let that one sink in.
Every single dollar of economic growth for our last quarter went to government. And even after that, they took another $475 billion.
This is not sustainable, people. We need a Javier Milei.
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The only good sustainable way out of this mess is to increase productivity and efficiency.
Growing GDP will make inflation worse unless supply-side economic policies are implemented.
Raising rates will increase Annual Federal Debt Interest % of the Annual Federal Budget, insolvencies, deflationary death spiral, and economic recession or depression.
It's always a good day to restock your Y2K Doomsday shelter with precious metals, bullets, shelf-stable foods, and bottled water.
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The only good sustainable way out of this mess is to increase productivity and efficiency.
Growing GDP will make inflation worse unless supply-side economic policies are implemented.
Raising rates will increase Annual Federal Debt Interest % of the Annual Federal Budget, insolvencies, deflationary death spiral, and economic recession or depression.
It's always a good day to restock your Y2K Doomsday shelter with precious metals, bullets, shelf-stable foods, and bottled water.
Absolutely. I think everyone needs to heed your words. I just truly wish we had a doomsday shelter -- we'll have to shelter in place and pray for the best.
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In the last quarter, our government ran up $800 billion in debt while our economy only grew $325 billion. Let that one sink in.
Every single dollar of economic growth for our last quarter went to government. And even after that, they took another $475 billion.
This is not sustainable, people. We need a Javier Milei.
But our economy is doing so well. :thud:
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Gold is problematic in a doomsday scenario. How are you going to 'sell or trade' gold, when everyone is armed and starving. In the event of some nationwide emergency, who the hell is going to give a damn about some funky yellow metal?
In my opinion, food, water, and ammo, will be much more valuable than gold if society ever does break down. Gold is a 'first world' form of currency. In the wild it may retain 'some' decorative value, but it will not be the go-to currency of the times.
Go to deep-Africa, outer Alaska, or the outback wilds of Australia and try to trade gold for food. They will think you have gone insane. They don't care about that stuff at all.
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240b observes:
"In my opinion, food, water, and ammo, will be much more valuable than gold if society ever does break down. Gold is a 'first world' form of currency. In the wild it may retain 'some' decorative value, but it will not be the go-to currency of the times."
I agree (and just mentioned this to a friend yesterday).
In such a "breakdown" as you describe, I reckon a much more useful medium of exchange (other than ammunition) will be junk (90%) silver in small denominations. Quarters and dimes will rule the day.
Outside of plain barter for other items of usefulness...
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The market needed this correction. Corrections are healthy.
But inflation is not healthy
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This is not sustainable, people. We need a Javier Milei.
We sure do. No chance of that happening this election cycle though. Our choice is Democrat big spender or Republican big spender. Barf!
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We sure do. No chance of that happening this election cycle though. Our choice is Democrat big spender or Republican big spender. Barf!
And yet there are some who can’t grasp why some of us don’t want to vote for more of the same
The longer it takes to deal with this issue, the more difficult and painful it becomes down the road. Simply just ignoring it because you don’t want to upset voters is not an option