Even CNN is admitting it: "Inflation is headed in the wrong direction" and "hotter than what we were expecting and certainly hotter than we saw the...
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People are SHOCKED to learn that increasing the minimum wage leads to higher prices for stuff!
Holy shit....look at the yields go > https://www.cnbc.com/2024/04/10/us-treasury-yields-ahead-of-consumer-inflation-data.html
Thanks,
jo!
Thanks,
jo!
Kind of a nothing burger, especially this far away from the election. By November we'll see record low inflation, and abortion will still be illegal in redneck states.
Wanna bet we'll see record low inflation by election day?
Sure! How about the loser has to display an avatar of the winner's choosing for a month here on HROT?
Unless we see deflation between now and November it doesn't matter, people are hurting and will continue to be hurting even if inflation is 1% in Oct.
You cant erase 30-40% price increases over the last 4 years with a couple months of slower rise.
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The Fed will almost certainly pump the breaks on their planned rate cut based on this information, which should help correct annual inflation. Hopefully they'll drop a 1/4 to 1/2 point at the end of Q3, just in time for the election.
Actually, some economists are saying they wouldn’t be surprised if this ends in another rate hike before any cuts.
We should know for sure in the coming days. Either way, we're most likely looking at a rate reduction to start Q4.
I mean, a rate hike is nice when you have money in the bank. I ain't going to lie. Not so nice for those who carry credit card balances.
Ummm look at labor shortages and monetizing debt first.
Why do you think that? Lavmbor shortages...ghost of covid monetization of debt. I cant even get a control board for my 5 yo washer..
This current bout of “inflation” has been almost a decade in coming. Obama’s biggest mistake was NOT allowing rates to raise the last couple of years of his second term….He was hoping he could keep the economy cooking for Hilary and it backfired. Trump inherited a strong economy and needed it to stay hot for his re-election…..that backfired, too.
What does a rate cut actually accomplish though? It sounds like you agree that the inflation data was not good, so how does a rate cut help normal Americans?
I think it helps the Commercial real estate and the government, but it doesn't help me at all. But it may stimulate the economy where inflation actually picks up even more. That doesn't seem like it would be good.
Illegals filling jobs is the only reason inflation is as low as it is.
I 100% agree.
I think getting the 'green new deal' passed and allowing an open border, along with the Ukraine and Israel war have prevented a full blown recession. I don't know how much longer they can push it out, but I think something has to be coming.
I dont think 5-8% interest rates are extraordinary. Sorry.
In today’s world…at least the world I have lived in as an adult, “housing” drives the nation’s economy. Housing has gotten VERY expensive…at least “property” has…..Back when I was a youngster, a “lot” could be purchased for $5-8K….now just up the street from me (and on a BUSY 6 lane street) there is a cornfield offering “Lots for sale” starting at $90K! So, back in the day (mid-1970’s) when lots were selling for $5-8K and interest was 7-8%, these same lots are selling for 10-15X’s that price. Back in my youthful days (mid-70’s), a 2 bdrm ranch with attached garage in WDM sold for around $25K….today, look at the prices of “starter homes”….easily 10X’s that amount….If you wanna slow down inflation your raise interest rates….and in turn that slows down the housing market….,everything follows the pricing of houses in America. The interest rates aren’t the big bad wolf here exclusively….. Get back to balanced spending, some how. Clinton did it…the only President in my adult life’s who ever came close to it…,.,he RAISED taxes, balanced the budget and the nation FLOURISHED! The best decade of my life were the 8 years Willian Jefferson Clinton was President…he did two things…..kept a balance on spending and achieved a “fair” tax plan for the nation. The reason I give Clinton a lion share of the credit is easy….,as soon as he left office, Junior/Newt and the GOP Congress cut taxes, increased spending and allowed the rich to get (much) richer and allowed the middle class to fend for themselves. Them Junior got involved in two wars halfway around the world, didn’t pay for them and a distracted Congress (Republican led, but plenty of blame to go around) thought the BIG BANKS could be trusted with OUR money….and then the home mortgage market collapsed….It took a good 6 years to claw back to “even” from that and then COVID struck….and Trump, who tried to run/balance his budget with smoke and mirrors and gutting many necessary “emergency services” got caught with his pants down….desperate for re-election, Trump started writing checks like a drunken sailor on shore leave……Trump had a HUGE role in putting America where it is today by his financial ignorance. Sorry….Trump and his 4 years were an unmitigated failure….trouble is, the failure affected most of US and not him…….Hde has used racial bigotry, bias and fear-mongering to keep many Americans distracted ever since then. Trump them tried to overthrow the US Constitution, got got and has been fighting/delaying the American justice system ever since he left office.
I agree with you that 5-8% interest rates are not a big deal. I support keeping them where they are or slightly higher.
I am a big balance the budget guy.
I don't think you give a fair analysis about trump though. I very much disagree with how the left has gone all in on this global agenda. At least with trump I believe more money will be kept in the usa vs biden who loves to give it all to foreign countries for war or to help progress the sustainable development goals. If we are going to be in debt, at least we will have nicer things with trump.
I think we're in agreement there. I was hoping inflation had topped out and disappointed that it hasn't. I don't see any rate cuts in the near future because that would only exacerbate the inflation problem. Because fed rates affect mortgage rates, I'm always in favor of it being lower. That would make it easier for normal Americans to purchase homes and property. Also make it easier to borrow money for projects, etc.
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