Inflation is back. Biden should be worried

phcitywarrior

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"Housing Market has slowed"

Yeah, Mortgage Interest Rates doubling in one year and having almost no inventory under $300k that isn't run down or in bad neighborhoods does that.

Yep. Cooling inflation doesn’t mean there’ll be a fall in prices. If/when the Fed can get inflation to within 2% we might have already seen a broad price increase of 20% in some sectors of the economy.

And those will be the new normal prices people have to contend with. But are people getting 20% pay raises? Me thinks not.

Fed sat on their hands far too long with their “transitory” BS. Tbh, they should have been upping rates since 2016/17 with a goal to get to around 2.5-3% by 2019. Powell bowing to Trump’s calls to keep IR low is exactly against the supposed need for the Fed to be independent.
 

Secure Da Bag

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tm56xcxl.png

Let's see how much of that rise in cost is inflation.....


According to the link above, gas should be $4.64. So they are gouging us an extra $1 a gallon. Biden should call that out.
 

bnew

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phcitywarrior

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It would help if you told people what else determines gas prices.

53.6% - Price of crude
16.4% - Federal and State Taxes
15.6% - Distribution and Marketing
14.4% - Refining Costs

Source: EIA.gov


Distribution and refining costs would deff have gone up. Shipping is more expensive as is the labour.
 

mastermind

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If inflation is due to supply chain issues, why is unemployment the answer? Oh that’s right because they don’t give a fukk as long as they are comfortable.
 
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