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US annual inflation declines to 7.7% in October vs. 7.9% expected

bls.gov

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Re: US annual inflation declines to 7.7% in October vs. 7.9% expected

#11

Post by SantalBlush »

InTheArena wrote: post #6
SantalBlush wrote: post #3

For those who were wondering if we would officially be in a recession after November 8 elections, the answer is still "no".

It will take a quarter, but given the massive layoffs occurring now, the projections of early next year are looking spot on. Inflation is a different problem.

The argument being repeated here on HN wasn't that recession might happen in the future (which would be a true statement); the argument was that we've been in a recession since summer, but due to government propaganda and a media conspiracy, it was swept under the rug (which was false).

Re: US annual inflation declines to 7.7% in October vs. 7.9% expected

#16

Post by fasteddie31003 »

RANT: This inflation and coming recession is entirely on the hands of the current leadership in the Fed and Treasury. Their super-low interest rates over the years are coming full circle. We live in a centrally planned economy. My advice to the Fed is to set the Fed Funds Rate to equal inflation! This will stop the wild swings in the economy and keep inflation in check. When the Fed Funds Rate is lower than inflation there is an arbitrage opportunity for anyone who has access to this money to invest it broadly into the economy and get a positive return. I actually think this is a huge source of income inequality because only the most wealthy have access to this arbitrage opportunity, but that is another rant.

Re: US annual inflation declines to 7.7% in October vs. 7.9% expected

#17

Post by guiriduro »

InTheArena wrote: post #5
danuker wrote: post #2

Finally the mania is slowing down. It seems the rate hikes and layoffs are working.

Probably too strong of a statement. I don't view this as a huge miss (.2%), and ask anyone you know on a fixed income what this is doing to their retirement. Ulitmately, it's the glut of cash out there (IMHO) that is going to need to resolve itself before inflation gets back to a normal level.

But it does argue to permit the current tighter fiscal and monetary position to work as it appears to be doing, perhaps too well/quickly, rather than tightening more out of a dangerous over-abundance of caution.

Re: US annual inflation declines to 7.7% in October vs. 7.9% expected

#18

Post by tokai »

namelessoracle wrote: post #7

Quoted post unavailable.

I have seen products in the stores I use that have gone down again. Many stores and producers definitely used this inflation to hike their prices way up. How many industries are reporting record revenue underscores this further.

Re: US annual inflation declines to 7.7% in October vs. 7.9% expected

#19

Post by mytailorisrich »

namelessoracle wrote: post #7

Quoted post unavailable.

Inflation and inflation for staple items are obviously not the same thing and thus obviously do not yield the same numbers.

People and businesses buy much more than staple items and so the typical basket of goods and services used to calculate the official inflation number includes many more things.

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