Mish: Not long ago, economists thought that 5% unemployment was about as low as it could get without boosting inflation.
Powell: Inflation has increased notably and will likely remain elevated in coming months before moderating.
Inflation is being temporarily boosted by base effects, as the sharp pandemic-related price declines from last spring drop out of the 12-month calculation.
Powell: To avoid sustained periods of unusually low or high inflation, the Federal Open Market Committee's monetary policy framework seeks longer-term inflation expectations that are well anchored at 2 percent, the Committee's longer-run inflation objective.
Measures of longer-term inflation expectations have moved up from their pandemic lows and are in a range that is broadly consistent with the FOMC's longer-run inflation goal.
Inflation expectations hit the 5% level by averages and by single-point predictions, at 4.8% and 5.48% respectively.
Tax on the Poor Inflation is best thought of as a tax on the poor and anyone who does not hold assets.
It's becoming increasingly difficult to discern fact from fiction, and unfortunately the media has a strong bias. They spin stories to make conservatives look bad and will go to great lengths to avoid reporting on the good that comes from conservative policies. There are a few shining lights in the media landscape-brave conservative outlets that report the truth and offer a different perspective. We must support conservative outlets like this one and ensure that our voices are heard.
No comments:
Post a Comment