- cross-posted to:
- economics@lemmy.ml
- finance
- finance
- finance
- cross-posted to:
- economics@lemmy.ml
- finance
- finance
- finance
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment.
It keeps going up. People were talking about peak inflation back in May. Lol.
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Calling it now we gonna get stagflation, the fed can't actually reduce inflation they are actively destroying the economy, they drank the coolaid ideology wise they think rasing intrest rates reduces inflation. :farquaad-point:
But Reaganomics fixed stagflation. If we gave rich people all the money and did austerity, then it's impossible to get stagflation! Milton Friedman and Thomas Sowell said so!
If they succeed in reducing inflation by raising interest rates, it'll be by destroying the economy and the inflation will come back if/when the economy recovers. Inadequate output needs investment and that won't be fixed with low demand and high interest rates.
The fed can cool inflation lickety-split with a ~2% rate hike. This might crash the stock market by 10-15% though.
So they are going to half ass us into a long run recession.
The all items index increased 9.1 percent for the 12 months ending June, the largest 12-month increase since the period ending November 1981.
:yea:
Joe removed the federal gas tax temporarily so thats why gas did that.
I think it’s only partially true, futures for gas have also fallen, so :shrug-outta-hecks: its just period of rerouting oil around after sanctions.
