Fed does about face on inflation

[Mik]

https://www.msn.com/en-us/money/markets/the-fed-does-a-quiet-about-face-on-inflation/ar-BB1gzVmi?ocid=msedgntp

[Loki]

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.

[Mik]

Yep. 22 will be a slaughter.

[LuFins Dad]

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]

@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....

[Axtremus]

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. …”

[Jolly]

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...

[George K]

@jolly in 2017 I bought a grocery cart on Amazon. Very convenient for hauling stuff up from the garage to the condo.

I paid $61 for it.

Today:

[Jolly]

I assume you didn't pay $90 or more for it back then?

[George K]

@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.

[Copper]

https://www.ssa.gov/oact/cola/colaseries.html


Remember that mortgage in 1982?
I do.

https://militarybenefits.info/cola-increase-watch/


[Jolly]

Speaking of data...

Link to video