Quote:
Originally Posted by SDGT3
Although I agree, the reason why half the country is hurting is because inflation has been the highest the US has seen in 40 years.
Jobs are still plentiful and the last 3 month's average jobs numbers, with revisions, went from 116,000 jobs per month to 185,000.
Oil up on geopolitical concerns. 10 year treasury approaching 4% again, dollar much stronger, the yield curve tightening between the 2’s and 10’s again to near inversion as short term rates rise on this news. Two candidates that will raise the budget deficit and national debt even higher. I ask, where was the need to cut rates and why even talk about further cuts when you don’t have the “data” yet?
Claudia Som of the infamous Som Rule of economics revealed that layoffs are at the lowest rate in history… what is Powell and the Fed thinking when he says he wants to concentrate on full employment ?
The last Fed decision was not unanimous - the first time that has happened in nearly 20 years - so there is some sense of reality at the Fed, just not with the chairman.
Does anyone here believe or have personally experienced 3% inflation on anything? Housing, Food, all lines of insurance, energy, medical? No way.
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yeah inflation isn't 3%, its multiples higher but also the other issue is that new jobs are now paying less than they were in 2021/22 (although that was a bubble) and people aren't getting raises to help offset inflation. salaries haven't moved much over the last 10 years while everything else easily costs twice as much
on the other hand once companies are able to afford giving people more money, inflation would probably tick up again no? i don't really know how this gets solved, i feel like this is just the new normal