Federal Reserve July Minutes

I think it's premature to make this claim as cause and effect in economics takes time. Most economists caveat their predictions with a degree of certainty.

“The problem with the world is that the intelligent people are full of doubts, while the stupid ones are full of confidence.” -- Charles Bukowski

 

Bullshit. I see no such posts that corrects your initial false representations.

Poor form.

 

Now I see it. Good lord man, don't place your comments within a quote block that may be collapsed. That's poor form and a violation of Rule E of the Too Hot rules. I can't even quote them properly if embedded in a quote block.

Now that I see your counter argument(s), it is as expected. Semantic nonsense.

Me:
"Where does it say rate increases in September?"

You:
"The next meetings in 2022 when the fed is scheduled to meet for rate change considerations:

September 21
November 2
December 14"

Indeed the next meeting is in September. But they don't claim anywhere in your article that they will raise rates in September. Non sequitur.

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You: "Rightfully claims gas prices can go back up again. Smart people."

Me: Their comment was about how lower commodity prices cannot be relied on as "a basis for sustained lower inflation". They made no comments on the likelihood of gas prices going up.

You: From the report:

The minutes released Wednesday do provide a clue that alone won't be enough to soothe Fed officials anxious about rising prices. At the meeting, officials agreed that "declines in the prices of oil and some other commodities could not be relied on as providing a basis for sustained lower inflation, as these prices could quickly rebound."

Indeed. That's what they said. Yay! That underlying point is materially different than your summary of "Rightfully claims gas prices can go back up again. Smart people."

How about that, the Fed is aware that gas prices can increase and decrease over short term periods. They're brilliant!

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You: "They may raise .50% this close to the midterm election, but more rate increases are on the way."

Me: They don't mention the midterms or any timing whatsoever. They make no comments on a .5% increase. They merely said they will continue to raise interest rates to combat inflation, as warranted.

You: "I inserted my opinion at .50% and added the midterm comment. The fed doesn't like to put their thumb on elections. I predict .50% on September 21 and no increase on November 2. It's too far off to December 14 to predict. This is from the report:"

You didn't caveat it as your opinion but made it appear as a stated potentiality by the Fed. Fallacious.

 

If the facts don't support your narrative, use alternative facts. SMH

 

I’m one of the chosen lucky ones who gatorlawyer blocked. The place is a much nicer experience without him.

 

If the Fed were in this fight by themselves, the fed funds rate would be about 10% or more by now because going at it alone would force them to raise rates to levels above the current inflation rate, like Volcker did when he jacked the fed funds rate to 20% in 1980.

This go around the fed has actually been a follower not a leader.

The reality is that we injected about $7T of free money into our economy over a period of about 3 years (from the tax cuts, to the Covid stimulus to the spending bills) and that what finally caused almost 40 years of little to no inflation to capitulate and run up.

There are a hundred reasons for inflation, but it’s source is the result of each party in our 2 party system effectively going at it alone and spending money like drunken sailors while they had power for the past several years.

 

Said it before inflation is a worldwide phenomenon. Is this on Old Joe, too?
U.K. Inflation Hits 40-Year High Of 10% As It Bucks G7 Trend—And It’s Expected To Get Worse
By way inflation in the US has probably peaked although it may not be fully evident for a couple of more months.
By the way Larry Summers who warned that the Covid payments would be inflationary said that the recently enacted bill would not be inflationary since the increased spending is actually being financed through revenue rather than borrowing.

 

Come on, man, you’re smarter than that. Not everything is 100% partisan politics, no matter how much you want to make it so on here.

Joe doesn’t run the other 90+ industrialized countries in the world suffering from high inflation, excessive gas prices and supply chain problems.

Let’s at least try to be intellectually honest in our disagreement.

As an aside, the market ran up from around 29000 on Election Day 2020 to about 37000 this January. Where are all your posts crediting Biden for that almost 30% move during his first year in office if everything bad that’s happened the past 6 months is all his fault? Perhaps you can link them for us.

You’re just playing a silly partisan parlor game by finger pointing to one side only. This problem is years of abundant and free capital from both sides in the making…..compounded by a worldwide pandemic and a war impacting food and energy.

 

GlabAlist causes like making chips at home, repairing our infrastructure, manufacturing electric vehicles in the US and compensating veterans whose lives were ruined by the self-infliction of toxic burn pits? Call me a damn globalist then.