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Inflation data can be so politically inconvenient. So you want to get rid of inflation? Change the definition.
Beginning next month the Bureau of Labor Statistics will adjust the wights of the CPI index basket based on consumer expenditure data from 2019-2020.
It explains why President Biden and Ron Klain said inflation was slowing this week.
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This has been happening for years. There are plenty of people who track “real inflation” based on prior measures. Orwell literally described this behavior (chocolate rations going up by 25 percent or something like that).
I think what is not being discussed is how lazy the fed is right now. Inflation has been likely for a long time, but the fed’s inaction is truly striking. The fed are still buying mortgage backed securities and we are in a full on housing crisis due to the pricing bubble.
some sane person has to take the punch bowl away. Please?
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Sic transit gloria mundi (so shut up and get back to work) -
Creating current inflation stats using low Trump economy stats to prop up the current administration is pretty clever. Just for accuracy the 2019 CPI was 1.8. 2020 was 1.2. Why not add in 2009 and 1955 which were negative?
I’m watching housing prices very closely as well. They can still go to zero down no background check mortgages or 100 year mortgages.
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Pushing a plan to spend ten years of tax receipts in 18-24 months…what in the world is Cornholio thinking about? Even our own “Baghdad Bob” can’t spin this one. She can’t blame the pandemic on this one.
Who thinks Manchin will cave?
Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long
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