But Trump Didn't Lower Prices Yet!: Inflation Comes In at Negative 0.1%, Meaning Prices Came Down in July in Absolute (not Just Relative) Terms

Trump has been making the case for months that we are no longer in Biden's "transitory inflation" phase. Jerome Powell never pre-emptively raised interest rates due to Biden's inflationary spending, and actually lowered them just before the election to boost Biden's chances, despite inflation still being well above the target rate.

Meanwhile, he refuses to lower interest rates for Trump, despite 1, inflation near the 2% target, and 2, signs of a weakening job market.

Well, inflation for July had been "expected" by "experts" to come in at 0.3%, for an annualized rate of 3.6%. Instead, they came in at -0.1%, meaning prices went down, and if this rate were annualized, prices would come down 1.2% for the year.

As I've said, the fed fears deflation because people will tend to sit on their money if they know their money increases in value just by hoarding it.

Will he finally reduce rates? Allegedly he's considering doing so for later this month, but just by a small amount. 0.25% or 0.5%.

He's a left-wing deep state ideologue so he'll do whatever he can to push us into recession.

Stocks hit fresh records Wednesday after new inflation data bolstered investor confidence about coming Federal Reserve interest-rate cuts.

A surge in shares of Oracle, which said artificial intelligence had fueled an "astonishing quarter," sparked a broader rally in AI-related stocks. The S&P 500 and Nasdaq Composite rose to new closing highs, a day after all three major indexes did so.

...

A gauge of wholesale inflation showed prices unexpectedly edged 0.1% lower in August, after jumping a month earlier. Economists had expected a 0.3% monthly rise. An equivalent readout on consumer prices is due Thursday.

"Just out: No Inflation!!!" President Trump posted on his social-media platform.

Unexpectedly.

posted by Ace at 02:42 PM

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