CPI
Lies – It’s All Lies
This post originally appeared on February 13, 2023 On Friday, after the close, the US Bureau of Labor Statistics revised the December CPI number. People hoping for a Federal Reserve “pivot” to lower interest rates have been focused on the month to month CPI to get a sense of any short-term change in the direction … Read more
Inflation Comes in Hot Again – and Still Understated – 8.3%
The August Consumer Price Index (CPI) just came in at 8.3% (prices up .1% from last month). Market watchers were expecting a CPI of 8.1% and prices down .1% from July. Whether the report showed 8.1% or 8.3%, it’s a huge number. To give you a sense of how bad 8% inflation is, at that … Read more
CPI Hits 9.1% and Somehow People Are Still Surprised
Today’s announcement that the Consumer Price Index (CPI) hit 9.1% was so severe that there is now credible speculation that the Federal Reserve will raise the fed funds rate by 1.00% instead of the planned .75% which would still represent a huge increase. We warned that inflation was large, understated, a huge problem, and not … Read more