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We have a New Fraqqle Rock Thread to continue the original Dance Your Cares Away mega thread, which is now securely archived to reduce the tremendous load on site resources.
Debate ***Master US Jobs / Inflation Thread***
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Discussions, politics, and deep-dives
'I worry about inflation,' says BlackRock's Larry Fink --- warns it's unlikely 'to be transitory'
The head of the world's largest asset manager isn't convinced by the Federal Reserve's arguments that U.S. inflation pressures will soon fade away.
www.marketwatch.com
Fed is changing language from transitory inflation, to inflation “will moderate”
www.marketwatch.com
Inflation is above what Fed was hoping to see, but it will moderate, Powell says
Fed Chairman Jerome Powell said Wednesday that inflation will moderate after a few more months of elevated readings.
www.marketwatch.com
New concern for Biden: Could Larry Summers be right about inflation?
Summers now says he's more concerned than he was when he first issued his warnings.
www.politico.com
Inflation is starting to slow down consumption and hurting consumer confidence. Poor Biden.
Last week US CPI inflation for June rose at a stunning 0.9% MoM, or 11% annualized, placing it among the highest sequential inflation readings in the past 40 years. Sure, much of the reading can be chalked up to used car prices and airline tickets, which are unlikely to continue to rise at this pace and may actually fall back. Still, food inflation rose 0.8% MoM, energy inflation rose 1.5% MoM, and rents increased 0.5% MoM. When food, energy and rent prices rise like this it inevitably starts to crimp consumer confidence and consumption related activity. That may be what we are seeing now.
Last week US CPI inflation for June rose at a stunning 0.9% MoM, or 11% annualized, placing it among the highest sequential inflation readings in the past 40 years. Sure, much of the reading can be chalked up to used car prices and airline tickets, which are unlikely to continue to rise at this pace and may actually fall back. Still, food inflation rose 0.8% MoM, energy inflation rose 1.5% MoM, and rents increased 0.5% MoM. When food, energy and rent prices rise like this it inevitably starts to crimp consumer confidence and consumption related activity. That may be what we are seeing now.
ESG investing will certainly have some people that lose out.
Yep.
U.S. GDP rose 6.5% last quarter, well below expectations
While the GDP gain would have been strong prior to the pandemic, it was considerably less than the 8.4% Dow Jones estimate.
- GDP rose at a 6.5% annualized pace in the second quarter, according to the Commerce Department’s first estimate Thursday.
- That was well below the Dow Jones estimate of 8.4%.
- Initial claims for unemployment insurance also missed expectations, with the 400,000 total above the 380,000 expectation.
Yes.
I’m beginning to think they will do anything to put off the correction and would rather see a half a percent of growth than do what needs done.
Anything to protect Puddin.
I don’t know how it could be less than 5% all the way through next year.
Yep should be fun to see how it plays out
I hate to be Debbie downer but if I were gonna guess I would say inflation tapers slowly over the next 3 years (maybe 4) and GDP looks like shit.
Things won’t overheat that way and at the same time won’t go straight off the cliff.
Barry’s growth will look Clintonesque by the time we are said and done IYAM.
This is making me so happy.
Dims not being able to just spend their way out of every problem is an excellent change of pace.
Joe Biden to Demand Half of U.S. Car Sales Be Zero Emission by 2030
President Joe Biden on Thursday will announce a target date of 2030 for all new car sales in the U.S. to meet zero-emission standards.
www.breitbart.com
Manchin and Sinema are about to be challenged by their own party the next time they are up.
Tells you everything you everything we need to know about the pressure those folks are under.
They had their chance after the steal and dropped the ball.
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