Inflation remains hotter than expected, muddying path for Fed rate cuts

I’m going to say it now. There won’t be a rate cut this year.

 

yes there will…. right before election. Book it.

 

Just for actual information:

12-month price change in gasoline: 1.3%
12-month price change in fuel oil: -3.5%
12-month change in food at home: 1.2%
12-month change in commodities other than energy and food: -0.7%
12-month change in food away from home: 4.2%
12-month change in energy services: 3.1%
12-month change in services other than energy services: 5.4%

So this is almost entirely driven by inflation around services, which is largely driven by how tight the labor market is (causing wage increases in low-wage industries and making it very hard to fill positions, decreasing the supply of these services). If only there were a group of people that wanted to do relatively low wage service jobs in this country in large numbers. Might really help with inflation. Oh well, there certainly isn't a group of people trying everything to be able to do that.

 

Looks like those deficit funded Trump tax cuts are still coming back to bite us. Who could have known?

 

Higher, longer!!!! I hope we are in the new normal. There is no need for 3% mortgages and 1% treasuries.

 

One rate cut will not help either candidate... especially that close to an election.

 

I thought Janet Yellen said this was transitory inflation?

 

I think there will be massive pressure for one, but I’m not sure the government can fudge the numbers enough for some of the Fed governors to cave. May be wishful thinking on my part. Governments have little to no limits on lying.

 

Is the right wing narrative that the economy sucks or is growing too fast? I am having trouble keeping up.

 

Just for more actual information... these numbers are on top of the increased percentages prior to 12 months ago.

 

Is rent and auto insurance a service?
When you allow millions of illegals into the country, having to provide housing, healthcare and education
along with spending trillions of dollars beforehand recklessly like the Biden Administration has done this
is the price American citizens pay.

 

No, rent is not a service. Yes, insurance is a service. What spending are you discussing?

 

Come on man, no one could have predicted all this inflation...

 

Auto insurance isnt a service, but someone fixing your car is

 

Outstanding effort sir. I tip my hat to you!

 

Hmmm, so we don't have enough people to provide low-wage services, raising prices, and your solution is to have fewer of the people who want to provide low-wage services?

 

With all due respect your economic predictions on this site have been pretty poor. So I’ll take your comment with a grain of salt.