Monthly CPI was only 0.1%, but the monthly core CPI was 0.6% compared to expectations of 0.3% and for a yearly core CPI of 6.3%.<p>The market seems to be coming to sudden realization that energy prices aren't the sole driver of CPI. The Fed is going to hike 75 pts again at the next meeting and they're not close to being done (and certainly not close to cutting rates).
I don’t think rent prices will be driven down by rate increases. We need a federal government initiate to be building dense/modern housing across the board. The western world basically hasn’t been building enough housing since post ww2 and it’s biting us in the ass
This is your daily reminder that there is no theoretical reason to do these monthly small hikes. Except to keep pretending everything is still fine I guess.<p>Russia hiked by 9% in a day and it helped stabilize things quickly. We need to hike to 6% and be done with it, no more of these games pretending things are fine.
This is the 27th straight month of inflation. It was labeled transitory, and people who rang the alarm were ridiculed. They expected a .1% drop and instead we got an .1% increase. But people are celebrating, it was only a .1% raise. The contortions...<p>They'd better fix this now before the elections real quick. Handing out candy (ala student debt forgiveness) surely will prolong our diabetes. Instead allow students to declare bankruptcy on student debt.
> Food costs increased 11.4% from a year ago, the most since 1979. Electricity prices rose 15.8% from 2021, the most since 1981.<p>The Fed has completely screwed up the US economy.<p>The fed chair Powell was using fancy words to basically say that inflation would not be persistent last year when most of the industry was saying it would be.<p>The worst part is he got another term even with such a big screw up.