June, July, & August 2024 CPI & PPI not what Fed Reserve Needs for rate policy change

Agree, rates should have already been dropped 1-2 times.

 

Yes, especially since one of the CPI components that is still running high, housing, would be helped by lower interest rates.

 

Most people understand the president deserves little to know blame or credit for oil prices. That's why we make fun of @Gatorrick22, he doesn't.

 

I wish that were true.
Can a president control gas prices? Depends on when you ask

 

I must say the July monthly being at +0.2% could be problematic for a September rate cut. Annualizes at a 2.4% rate which is higher than their mandate and they've indicated they want to bring inflation under the mandate. Likely for a period of time as well to make sure the deflation isn't transitory.

 

So your wife was wrong and food and energy prices didn't increase a bunch?

 

Yeah, you tried to claim that gas prices were up because the second derivative of gas prices increased. It would be funny to you if you understood math. Somehow, you are convinced that a 0.0% change in gas prices is an increase. And that somehow, a 0.1% increase in food at home (which you used the wrong metric instead to get a bigger number as your wife's grocery shopping wouldn't include food away from home, by definition) is a substantial increase.

 

Almost as if it is supply of housing vs the demand as opposed to the financing mechanism.

 

July inflation excluding housing was zero.

Housing isn’t defying higher rates. I’ve explained why before multiple times. Do you have a learning disability?

Here's why housing inflation is still stubbornly high

 

I do, actually. But sure, on one side, we have your feelings. On the other side, we have an extensive survey of all prices across numerous categories all over the country. It really is tough to figure out what is the most accurate way of measuring prices.

 

Yes, but the Fed is keen on stemming housing inflation, because it tends to drive everything else. What's most people's single largest expense each month? Housing.

 

He definitely has feelings. I asked him if he had a learning disability because I want to be sensitive to his inability to understand why CPI housing lags, but that seemed to upset him.

 

Is that required to understand inflation?

Because:

 

I actually do the grocery shopping and while prices went through the roof in 2022 they've been very stable over the last year and while regular grocery prices have largely remained unchanged sales are becoming more frequent as an example the regular price strawberries at the store where I shop is $4.99 a pound. They're almost always on sale at 3 boxes for $10.00.

 

Yeah… the Fed only meets 8 times a year so no expected 7 cuts in one year, ET has lost it…

 

He’s adamant there won’t be one in September too. Offered him a wager but he declined.

I get the whole idea of believing what you want to be true but MAGAs take it to the next level.

Like we were all certain just over a month ago that Trump was gonna clobber Biden. It was clear as day and I said so many many times. I just don’t get how you can become so detached from reality to think something is going to happen when it’s clearly not.

I guess it’s just tribalism. Which this being a sports board I fully understand - I guess I’m just sad that people treat politics like sports.

PS: I predict the Gators will have their 3rd straight losing season in 2024 and Napier will be fired. Again, not what I WANT to be true, but that’s what all signs point to. I can’t just ignore trends, recruiting etc like some other fans seem to be able to do.