Cleveland Fed’s Underlying Inflation Measure Hits 3.0%, Hottest in the Data.
Wages rose with inflation, but not nearly enough to pay for “quality improvements,” which is why working people feel increasingly impoverished.
What would the Fed do if economic factors were all it looked at?
Top 20% households made out like bandits, bottom 40% got crushed.
August wholesale auction price index hits record after longest series of year-over-year price gains since 2001.
Here is where inflation runs hot – and it’s not imported consumer goods.
“It is not the beginning of a long series of rate cuts”: Powell.
In the US alone, it impacts nearly $40 trillion — with consequences for the real economy.
Inflation gets pitched as something inherently good the Fed is trying to make sure folks gets enough of. But someone’s paying the price.
The Fed could instantly claim victory and pocket the kudos.