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Biden lowers inflation to 3.1%

99percenter

99percenter

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Inflation is going down because the people have finally run out of money to spend.
 

Biden lowers inflation to 3.1%​


I wonder why he raised it so high in the first place.
 
Airyaman said:
A positive inflation still means prices are continuing to rise. People don't care about percentages, they care about how much groceries cost.
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Just means a doubling 12 years and 3 months quicker than the Feds target.
 
eman623 said:
Biden should explain how He did that.

And why only 3.1%? If He can raise or lower inflation at will, why not 2%?
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Lol. Baby steps. Do you also expect him to cure cancer in one day?
 
Biden lowers inflation to 3.1%
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What a load of bullshit. Biden did NOTHIG to lower inflation. The Federal Reserve lowered inflation by making money harder to borrow. (incrementally hiked interest rates).

Biden's Inflation Ruduction Act does NOTHING to lower inflation. It's an idiotic wealth redistribution scheme to transfer wealth from taxpayers to green-energy businesses.

Lefties are SO naive and gullible.
 
99percenter said:
Did the graphic account for trumps crazy spending in 2020? If not, it’s useless
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Leaving aside the fact that it peaked after 2 years of Biden, why post something you know to be useless?
 
mrjurrs said:
If President Biden caused it R's, he is also responsible for lowering it.
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Way too simplistic. Biden and his Democrats are still on their massive tax and spend campaign. Fed is the once tapping down inflation.
 
dmpi said:
Way too simplistic. Biden and his Democrats are still on their massive tax and spend campaign. Fed is the once tapping down inflation.
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It's too simplistic now that inflation has come down? You do realize that your previous posts are available to review right?

By the way, the Fed's target rate has never been 2%.
 
mrjurrs said:
It's too simplistic now that inflation has come down? You do realize that your previous posts are available to review right?

By the way, the Fed's target rate has never been 2%.
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Oh I get it. Biden made everyone run out of many. Maybe the Fed raised rates and people can't afford their current debt level.
 
dmpi said:
Inflation is going down because the people have finally run out of money to spend.
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Nope, wrong. Consumer spending is up, and hit a record $18 trillion in October 2023. It jumped $45 million just from September to October.
 
Visbek said:
Nope, wrong. Consumer spending is up, and hit a record $18 trillion in October 2023. It jumped $45 million just from September to October.
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Monthly
October 2023+0.2%
September 2023+0.7%
August 2023+0.4%
July 2023+0.7%

These are the latest PCE numbers. They look like they're going down.
 
dmpi said:
Oh I get it. Biden made everyone run out of many. Maybe the Fed raised rates and people can't afford their current debt level.
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Perhaps a remedial Economics course would be in order?
 
Along Came Jones said:
What causes you to make such a claim? The FED's long run inflation target rate is 2%.
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Apparently we are using the wrong term in this comparison. We should be talking about an inflation target rate. I accept your 2% figure.

1702418486012.png
"The Federal Open Markets Committee sets the federal funds rate—also known as the federal funds target rate or the fed funds rate—to guide overnight lending among U.S. banks. It's set as a range between an upper and lower limit. The federal funds rate is currently 5.25% to 5.50%."
www.forbes.com

Understanding The Federal Funds Rate

The federal funds rate is one of the Federal Reserve’s key tools for guiding U.S. monetary policy. It impacts everything from the annual percentage yields you earn on savings accounts to the rate you pay on credit card balances, which means the fed funds rate effectively dictates the cost of money i
www.forbes.com www.forbes.com
 
bubbabgone said:
Leaving aside the fact that it peaked after 2 years of Biden, why post something you know to be useless?
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You don’t understand how spending effects inflation do you?
 
99percenter said:
You don’t understand how spending effects inflation do you?
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Oh look at you telling me how Government spending affects inflation but neglecting to consider what he spent and on what, and other causes since the Big Guy took over.
 
99percenter said:
All good news in the economy yet people still think it sucks. The gop has been very good with their brainwashing.
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You've been brain-washed, too.

The "inflation" (snicker) you've been experiencing was Demand-pull Inflation and Cost-push Inflation resulting from high petroleum prices due to the conflict in Ukraine and supply chain/logistics issues stemming from governors stupidly shutting down their economies in response to STUPID-19 and costs related to STUPID-19.

When "inflation" was 8.0% it broke down like this:

1.0% Monetary Inflation + 5.0% Demand-pull Inflation + 2.0% Cost-push Inflation = 8.0%

Hiden did nothing to lower oil/natural gas prices nor could he have possibly done so.

Hiden did nothing to resolve supply chain/logistics issues nor could he have possibly done so.

Accordingly, the propaganda and disinformation you presented fails as a matter of economics, logic, and reality.
 
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