I’ve been saying here to those few who might hear me….
Fed Chair Powell can keep raising interest rates to the Moon….
Don’t matter…
Small to Large businesses are problem…
And Powell has NO influence over that….
There ain’t any ‘Sale’ signs out there and the gas prices are rising again….
And?
He might get the blame but Biden can’t control this either….
When people stop buying ?
And business ends up with too much stock?
Prices WILL come back down…
Inflation IS not going anywhere and a Recession is already beginning as some companies begin to lay people off as YES$….
People DO stop buying some OVER priced consumer goods….
September prices rose at a pace of 8.2 percent compared with a year ago, according to data released Thursday by the Bureau of Labor Statistics, a slight slowdown from the summer peak but still at highs not seen in four decades….
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The food index rose 0.8 percent in September, as it did in August. Fruits and vegetables were up 1.6 percent, and cereals and bakery goods were up 0.9 percent. Flour, turkey and butter hit new highs. All told, food costs are up 11.2 percent over the past year.
A handful of indexes dropped in September. Used cars and trucks fell 1.1 percent, not as much as analysts were expected. Apparel dipped 0.3 percent.
Inflation remains the economy’s biggest problem, and Thursday’s consumer price index report is the last in the runup to the midterm elections next month. For more than a year, families have swallowed rising costs for groceries, gas, rent and nearly everything in between. Businesses are struggling to offset higher costs for transportation, find enough workers or get around persistent supply chain issues. Also on Thursday, the Social Security Administration announced an 8.7 percent increase in benefit checks for seniors starting next year, a response to the fastest inflation America has seen in four decades….
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In a Thursday statement, Biden said “prices are still too high,” and slammed Republicans for opposing the Inflation Reduction Act, a major piece of legislation aimed at lowering health-care costs and tackling the climate crisis. GOP lawmakers argue that Democrats’ stimulus spending from earlier in the pandemic, and argue that Biden and Congressional Democrats shouldn’t be trusted on economic issues.
Officials at the Federal Reserve have made clear that prices are so highthat the Fed is far from scaling back its aggressive rate hike campaign, even as experts increasingly warn that the Fed risks overcorrecting the economy…
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“The cost of eggs goes up 400 percent. If you were to increase costs for an omelet and charge $25, you’d be out of business,” Clifton said. “No one would buy it.”….