recent corroborating economic data suggest that inflation has peaked. on 30 Nov 2022, Fed Chair J Powell commented that the level of short-term rate hikes could start to ease later this month. in addition to the referened ConsumerPI data, he also has advance knowledge of the Manufacturing PMI, In November 2022, economic activity in the manufacturing sector contracted for the first time since May 2020 after 29 consecutive months of growth
That was the lowest. Most of the lowest ones I saw were 2.69-2.79. My grandpa is winking down at from somewhere. I remember thinking when i was kid why TF is he talking about gas prices who cares.
I know several retailers overstocked when supply chains started opening and now are having to reduce prices. Target is taking a beating from overstocking and having to reduce prices.
It's hard to find a source that is going to outright call it a cave, but with Russia selling their crude at ranges from $48-52/barrel, I don't think we are punishing Putin at 60. EXPLAINER: What's the effect of Russian oil price cap, ban?
Dec 2022 job report shows job growth of 223K vs the expectation of 200K average hourly earnings/wage up 4.6% from a year ago, below the 5% estimate; a lagging economic indicator that wage inflation has peaked
That's not how inflation works. Since 2020: COVID, Fiscal Policy for COVID, Broken Supply Chains Because of COVID, Ukraine, and now just Greed are the drivers. Neither Trump nor Biden can be blamed for our ridiculous inflation over last two years.
