• DogPeePoo
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    3 months ago

    Too bad Jerome Powell and Janet Yellen BOTH lied and said inflation “would be transitory”— only to completely backtrack years later.

    They have crushed the poor with reckless policy.

    Jerome, who is a lawyer and not an economist, has undoubtedly printed everybody’s great grandchildren into indentured slavery.

    • jeffw@lemmy.worldOP
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      3 months ago

      Gotta disagree with that. Without the fed’s action, we’d have inflation like the 70s and early 80s, when the fed didn’t really do anything. We’d be better off stuck at 10% for years on end?

      And I would call it transitory, since we’re basically sub-3% now

        • jeffw@lemmy.worldOP
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          3 months ago

          Food is under 2%?

          Edit: nvm, just above, 2.2%. Still, def under 3

          • DogPeePoo
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            3 months ago

            If you honestly believe groceries are only 2.2% higher than they were in 2019/2020, a meaningful discussion is a dubious endeavor.

            • jeffw@lemmy.worldOP
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              3 months ago

              Oh, you don’t understand inflation at all.

              Do you think groceries in 1945 were 3% higher than 1845? Since apparently we’re making meaningless comparisons across years now?

              Inflation at 2-3% is good

              • DogPeePoo
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                3 months ago

                What? I’m talking about before Jay Powell increased the M2 money supply by $6 Trillion.

                Inflation metrics are year over year. The M2 supply, however was drastically inflated under his tenure, namely 2020-2022. The data you’re citing is completely manipulated.

                • jeffw@lemmy.worldOP
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                  3 months ago

                  If you honestly believe groceries are only 2.2% higher than they were in 2019/2020, a meaningful discussion is a dubious endeavor.

                  My dude, you do not understand inflation or CPI lol

      • shortwavesurfer@monero.town
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        3 months ago

        According to the way the government runs the numbers now, sure, we are about 3%. With the way the government used to run the numbers, which is more accurate, it’s way higher than that.

    • Veedem@lemmy.world
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      3 months ago

      Have you seen the inflation in peer countries? While I’m feeling the pressure too, the rate is definitely lower than most other places because of the feds actions.

      • shortwavesurfer@monero.town
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        3 months ago

        The fact that the comparison is that it’s better than the rest is not a good endorsement. That’s like saying, oh, this spouse abuses me less than the previous one did, so it’s an improvement. Sure, it’s an improvement, but why be abused at all?