The lying pricks at the Federal Reserve give speech after speech about no inflation, keeping rates low, and even blathering about negative interest rates. I guess these idiots don’t need to drive cars, eat food, pay rent, buy houses, or essentially live in the real world. Gas prices are up 22% since mid-February. Food prices are up 6% since early January. Rent has been ratcheting higher at a 4% annual rate for awhile. Home prices have been going up 5% to 10%. Various government taxes, fees and tolls have been accelerating at a 5% to 10% pace. And Yellen can’t find any inflation????
CRB Foodstuff Index UP 6% Since Jan 4th (24% Annualized) – It’s Beginning To Look A Lot Like Inflation
It’s beginning to look a lot like inflation.
The Commodity Research Board’s Foodstuff index is up 6% since January 4, 2016. That is just in a little over 3 months. That translates to just under 24% growth on an annualized basis.
With US Real Average Weekly Earnings 1982-1984 USD YoY at 0.7%, it really does feel like inflation. Although The Federal Reserve thinks inflation is just shy of 2%.
When The Federal Reserve conducts their closed meeting today (and meets with President Obama), I certainly hope it is to discuss rising food prices and NOT negative interest rates!
Fed’s Harker wants to delay another interest rate hike until inflation picks up
By Greg Robb
Published: Apr 12, 2016 9:47 a.m. ET
Philadelphia Fed president sees potential for faster rate hikes later in the year
It makes sense for the Federal Reserve to delay another interest rate increase until inflation picks up, said Philadelphia Fed President Patrick Harker on Tuesday.
“I am approaching near-term policy more cautiously than I did a few months ago,” Harker said in a speech to the Greater Philadelphia Chamber of Commerce.
“It might be prudent to wait until the inflation data are stronger before we undertake a second rate hike,” he said.
Given the behavior of oil prices, inflation is likely to be “quite low….probably even negative” in the first quarter, Harker said.
And inflation has only been above the Fed’s 2% target for two years since 2008, he noted.
Harker said he saw downside risks to inflation and as a result, “it may be worth erring on the side of accommodation to ensure against that outcome.”
The Philadelphia Fed president said he was upbeat about the economy despite the “bumpy start to the year.”
He said conditions might start to improve in the second half of the year which can allow the Fed to raise interest rates at a faster pace.
Harker is not a voting member of the Fed policy committee this year.
I think the Growth rate is supposed to be: GDP – Inflation = Growth Rate; but it is actually calculated using this formula: GDP – Inflation/10 = .01 (1% or whatever small positive number they think they can get the Useful Idiots to believe). I worked for the BLS (in Florida) and good raw numbers are sent to WDC (even the Seasonal Adjustments are close) but then WDC applies “Political Adjustments”.
If you don’t count the sheep, but only count the wolves, walla, you don’t have any sheep. It’s true of any thing you count.
Their biased counting is the rational for all kinds of economic manipulation that serves government and the banking cartel.
What do you expect the truth? “When it’s really important, you have to lie.”
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Tough to see inflation from the back of a limo heading to your Learjet to go to a charity ball after a $1,000 a plate political fundraiser.
When reading a BLS report one must remember to apply the George Costanza Opposite Rule.
That is to say, whatever the BLS says … the OPPOSITE is true. Easy Peasy. Like this …
“End consumer” inflation is NOT in the formula………
Every “fact” about the “economy” is a lie.
The gov is gaslighting” us.
I suspect, don’t know, most TBPers are middle class.
We might be aware, but we have shelter and food.
Many don’t. Devestment continues.
Gov bribes with billions to force their way in. No cooperation?
Schools, hospitals and civilians burn.
There are some evil dudes running the show.
Employ the George Costanza rule. ‘
Maybe do some opposites.
Evil bastards – trying to increase inflation. Hanging is too good; maybe burning at the stake.
FYI. Inflation is NOT an increase in prices. The proper definition of inflation is an increase in the money supply. By that measure, inflation had been raging for a long time.