Fed does about face on inflation
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The anecdotal evidence is that very significant inflation has struck our every day lives, far above the attention it is receiving in the mainstream.
I don’t understand what is going on but I have to believe people are getting very concerned. It will be the end of the Biden era if it materializes.
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The Consumer Price Index tomorrow is expected to show at least a 3.5% increase vs April of last year. Granted, there was some stagnation in April 2020 due to pandemic panic causing some pricing suppression, but 3.5 is a big number. If I was day trading, I would hedge my bets...
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The Consumer Price Index tomorrow is expected to show at least a 3.5% increase vs April of last year. Granted, there was some stagnation in April 2020 due to pandemic panic causing some pricing suppression, but 3.5 is a big number. If I was day trading, I would hedge my bets...
@lufins-dad said in Fed does about face on inflation:
The Consumer Price Index tomorrow is expected to show at least a 3.5% increase vs April of last year. Granted, there was some stagnation in April 2020 due to pandemic panic causing some pricing suppression, but 3.5 is a big number. If I was day trading, I would hedge my bets...
4.3. Ouch. Market’s down....
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https://www.washingtonpost.com/business/2021/06/05/yellen-3-percent-inflation/
“Treasury Secretary Janet Yellen on Saturday said inflation could climb as high as 3 percent this year as the economy recovers from the depths of the coronavirus recession. …”
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It's going to be higher than 3%.
Gasoline is up. Way up.
A tractor shed that was $1200 a year ago, is now $1900 (I know, I bought it).
A five foot tractor tiller was $1700 a year ago. It's over $2000 now.
Prices in the grocery store are significantly higher than a year or so ago.
Kid's shoes are $5-$10 pair higher.
That's my unofficial consumer take on the matter...
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It's going to be higher than 3%.
Gasoline is up. Way up.
A tractor shed that was $1200 a year ago, is now $1900 (I know, I bought it).
A five foot tractor tiller was $1700 a year ago. It's over $2000 now.
Prices in the grocery store are significantly higher than a year or so ago.
Kid's shoes are $5-$10 pair higher.
That's my unofficial consumer take on the matter...
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I assume you didn't pay $90 or more for it back then?
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@jolly said in Fed does about face on inflation:
I assume you didn't pay $90 or more for it back then?
$61.
But, to your point, this is, to be fair, 5 years later. But the price almost doubled in 5 years? I wonder if a real spike occurred, of if this is a gradual increase.
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https://www.ssa.gov/oact/cola/colaseries.html
image url)Remember that mortgage in 1982?
I do.https://militarybenefits.info/cola-increase-watch/
image url) -
Speaking of data...
Link to video
