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Well, now its official. All those tax cuts, the amazing first 18 months and all that MAGAing has resulted in....well....LESS for the average joe or jane....
"U.S. inflation accelerated in May to the fastest pace in more than six years, reinforcing the Federal Reserve’s outlook for gradual interest-rate hikes while eroding wage gains that remain relatively tepid despite an 18-year low in unemployment."
So, let me get this straight. Interest rates are going to GO UP...which will fix this? That is, if we get those wage earners to earn less and be able to buy less....this will fix the problem(s)?
Also, all the theories about how wages will have to spurt up (big time!) when we have low unemployment have been shot to hell. Why?
One thing for sure....no MAGA is showing in those figures. When will MAGA kick in? I'm thinking that the "better health care for all at a MUCH better deal" should be about ready now. I think that is what many people need...
I know the typical reaction from anti Trump crowd is to make things seem terrible... if you read the article from the OP...
The consumer price index rose 0.2 percent from the previous month and 2.8 percent from a year earlier, matching estimates, a Labor Department report showed Tuesday. The annual gain was the biggest since February 2012 and follows a 2.5 percent increase in April. Excluding food and energy, the core gauge was up 0.2 percent from the prior month and 2.2 percent from May 2017, also matching the median estimates of economists.
...
The Fed’s preferred gauge of inflation -- a separate consumption-based figure from the Commerce Department -- came in at the central bank’s 2 percent goal during March and April, and the figure tends to run slightly below the Labor Department’s CPI.
In other words, this is expected... we are not turning into Venezuela.
I know the typical reaction from anti Trump crowd is to make things seem terrible... if you read the article from the OP...
The consumer price index rose 0.2 percent from the previous month and 2.8 percent from a year earlier, matching estimates, a Labor Department report showed Tuesday. The annual gain was the biggest since February 2012 and follows a 2.5 percent increase in April. Excluding food and energy, the core gauge was up 0.2 percent from the prior month and 2.2 percent from May 2017, also matching the median estimates of economists.
...
The Fed’s preferred gauge of inflation -- a separate consumption-based figure from the Commerce Department -- came in at the central bank’s 2 percent goal during March and April, and the figure tends to run slightly below the Labor Department’s CPI.
In other words, this is expected... we are not turning into Venezuela.
As expected doesn't mean it isn't cause for concern or a negative. The tax cuts and trade wars were meant to better the forecast not meet them.
I have noticed price increases over the past several months on supermarket food items which I regularly purchase. Inflation is starting to be noticed. This week interest rates will likely rise again - I think tomorrow will be the fed announcement on interest rates.
Trumpists don't get your feelings hurt and get all defensive.
Economic timing has been waiting for inflation to occur for some time and it's expected.
Also, all the theories about how wages will have to spurt up (big time!) when we have low unemployment have been shot to hell. Why?
Corporations are not "trickling down" their tax cuts to their employees. "Corporate America, flush with cash from President Trump's tax cuts, is buying back stock at a record pace." (CNN Money)
Most CEO's and BOD members get a significant portion of their compensation from stock options. Buybacks reduce the number of shares outstanding and therefore make the price per share go up, which in turn inflates the value of the CEO's options. And who is funding all of these stock option riches? The American public is because tax cuts are being funded by federal deficit financing. It's all a huge scam.
I have noticed price increases over the past several months on supermarket food items which I regularly purchase. Inflation is starting to be noticed. This week interest rates will likely rise again - I think tomorrow will be the fed announcement on interest rates.
Trumpists don't get your feelings hurt and get all defensive.
Economic timing has been waiting for inflation to occur for some time and it's expected.
When gas prices go up, food prices go up.
Those "bonuses" that people may have gotten with the tax cuts are long gone.
And now with these increases in daily costs, many have less buying power than they did at the beginning of the year.
Wait till the counter tariffs hit next month. Ouch!
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