Inflation HIGHER THEN EXPECTED says Powell

https://www.bloomberg.com/news/videos/2021-07-15/fed-s-powell-says-inflation-uptick-larger-than-expected-video

Inflation higher than expected

Jobless claims higher than expected

Turn on that money printer and work it overtime.

Nothing to see here. Everything is still great, Biden is doing wonderful.

Why make that silly partisan remark? Biden has literally nothing to do with inflation unless you think there was no money printing or inflation before Jan of this year...

Inflation has been well past 2% for ten years, money printing has been going on for 15-20 years and in some countries for four decades.

Powell is playing his part to deflect and minimize because governments, banks and markets would implode if he said otherwise.

@wallstreetcappers

 Inflation has climbed to it's highest it's been since 2008. Biden is supposed to be getting people back to work. Biden is supposed to be getting the vaccine out like he promised. Biden is supposed to keep inflation down. Who wanted the entire country shut down?

Inflation has NOT been well past 2% for the past 10 years. That is a lie. https://www.usinflationcalculator.com/inflation/current-inflation-rates/   have a look.

Is Powell lying to the people in the same way the people were lied to in 2008?! The banks are fine they said. 10 days later the banks crumble and the tax payers have to bail them out. A few months ago, "there is no inflation, the country is strong". Recently, "there is inflation but it's transitory". Is it?! Will it be?! How can we trust the same cucks that have lived to the public before the rug gets pulled!?

Is Biden's new infrastructure plan really going to help, or just going to help sustain another few months while adding more fuel to the fire?

Consumer prices increased 5.4% in June from a year earlier, the biggest monthly gain since August 2008.

Excluding food and energy, inflation increased 4.5%, the largest move since September 1991.

@I_Need_A_Detox

 Inflation is increasing to the highest it's been since the housing market crash and the eviction ban is set to be lifted in two weeks. Money printer is working overtime which is only going to devalue the dollar. Biden better figure this out.

He will obviously lie his way out..

He will blame

Trump

Climate change 

Systemic racism

To name a few...

What a coincidence... gas is back at the prices when was last in office...

@scooby-doos

 Gas prices are currently higher under Biden then at any point during Trumps term.

These prices quite similar to Obama biden terms..

Lots of emoticons and little actual reality in these replies..

No inflation has not been below 2%, even the watered down stripped CPI is fake and manipulated, so if you exclude pretty much every aspect of inflation and use an index which is easy to mask reality then sure you are all set. The CPI is a basket of goods that are valued at unit cost..now how can there be inflation with a unit cost index? Quite easily...

The truth is that inflation takes several quarters and likely years to show itself, the measure during covid tanked as consumption declined so the bounce back is for sure expected, Trump or Biden. Oil prices bounced back because there was the pandemic and that caused many players to go out of business and demand was artificially low, so when demand dropped so did production..thats how businesses function. When there is no demand you slow supply to stimulate demand. Oil going up was no shock to me, I went long many oil stocks smack in the middle of the pandemic for that reason.

You want to fault infrastructure spending because it came from a Democrat, but do you care about freebies and partisan handouts by the way of defense and military spending? If you are mad about spending then have it be when your group is in office, have it be all the time or you come off as a partisan hypocrite.

https://www.bls.gov/opub/btn/volume-1/consumer-price-index-data-quality-how-accurate-is-the-us-cpi.htm

President Joe Biden hasn’t been in office for five months yet, but he’s already facing a major challenge: Figuring out how to get a lid on inflation that is now at a level unseen in decades.

After a Labor Department report last week found that year-over-year in May, inflation rose 5 percent, the Biden administration is getting more bad news: A majority of Americans are blaming him for it.

“According to the Trafalgar Group/Convention of the States poll, 39% of respondents blamed Biden, while 17.7% placed the blame on former President Donald Trump,” USA Features News reported Tuesday, citing the survey.

“Independent voters blamed Biden more than Trump as well, by a 35.5-16.9% margin, the survey said. The poll comes amid rising prices for a range of goods, services, and commodities and inflationary pressures that have not been seen in decades,” the outlet continued.

Now, to be fair, there’s no question that the economy Biden inherited from the Trump administration was a shell of its former self; the COVID-19 pandemic was, if nothing else, the biggest economic disruption we’ve seen since the Great Depression.

But then again, much of the economic damage was self-inflicted by blue-state mayors and governors in some of the country’s wealthiest regions and ZIP codes; governors in New York and California, for instance, fell in love with the newfound authorities they were gifted by the pandemic and as such, extended lockdowns, business closures, and other economy-sapping measures for months longer than they needed to. We know this because red state governors opened their states last summer and fall, and fared no worse, virus-wise, but much better economically, than their blue state brethren.

Prior to COVID, Trump had the U.S. economy humming on all eight cylinders. The country was essentially at full employment and there were more jobs than workers. Wages were up across all demographics, for men and women, and all ethnic groups, and historically so. Companies were expanding in the U.S., not abroad, thanks to a major corporate tax cut. We were energy-independent for the first time since the middle of the 20th century.

So while ‘the economy’ writ large wasn’t the best overall for a president to inherent, Trump had laid a great foundation for a monster economic revival — until Biden and Democrats screwed that up.

“Among the president’s policies Republicans have criticized include providing extra unemployment benefits for months on end via COVID relief measures, which is pumping money into the economy while at the same time creating an artificial labor shortage,” USA Features News reported.

In sum, a larger money supply coupled with fewer goods and services to buy is a textbook strategy for creating inflation because more dollars chasing a short supply equals price increases.

Or a hidden tax increase.

“President Biden has repeatedly promised that he won’t raise taxes on American families earning less than $400,000 per year. Yet widespread and growing inflation due to his policies is — at least indirectly — breaking that promise. Call it the Biden inflation tax,” Alfredo Ortiz, president and CEO of the Job Creators Network, wroteat Real Clear Politics in May.

And now, most Americans agree — this is Biden’s fault.

So, no matter what metric you use for comparison -- inflation is certainly up. No matter what you include, or do not include, to make sure it is a relative measure-- the increase is empirically proven to exist.
Now, you can argue whether the policies that helped create it, or did not prevent it, are partisan or not.
But the main thing you usually see with this sort of thing is that each side cares about different things.
I think this is a clear example of that, as the article points out. Even honest Liberals think the Right does better with the economy. Even Trump was getting better rankings on this than other areas. Whereas, Liberals care about other things -- until they see the economy may need assistance.

https://thefederalist.com/2021/07/16/why-you-should-blame-the-federal-reserves-easy-money-for-todays-inflation/

This also touches on some aspects of the issue with the way the 'new money' was handled, etc.