No kidding?
Who would have ever thunk it?
Fed faces new inflection point amid troubling inflation data
"More unsettlingly, however, the central bank’s battle against high inflation appears far from over.'
"Having already raised interest rates from near zero to between 4.5 and 4.75 per cent over the past year, it looks increasingly likely the Fed will need to apply even more tightening than expected to cool the US economy."
(Baloney, they knew and they know where they need to get the interest rates, and they know and have known that they cant do it. They have to be above the inflation rate or it does no good...it might slow things down but interest rates below the rate of inflation wont fix anything. I mean if I know it? How can they not?)
"The following day, data revealed a surprisingly large increase in monthly retail sales in January, suggesting US households were still comfortable spending generously."
(can these brainiacs not figure out US Households HAVE NO CHOICE BUT TO PAY HIGHER PRICES?)
"Both followed a surge in job growth for the month of January that blew past forecasts amid a persistently hot labour market."
(Dear Brainiacs/policy wonks:
Did it ever occur to you that everybody needs another job to keep being able to pay their bills
yo-yos? Is there not ANYBODY in this country who uses critical thinking anymore?
Nobody can figure this out?
Geez louise...)
"For Powell, who celebrated the fifth anniversary of his ascent to the helm of the Fed this month, renewed questions about whether the central bank is being sufficiently aggressive on inflation could be disconcerting. After price pressures started surging in late 2021, the Fed was forced to play catch-up, implementing massive 75 and 50 basis-point rate rises throughout last year."
By January, the Fed seemed to be back on track: the central bank was ready to dial back the pace of its rate increases to more traditional quarter-point increments, reflecting greater confidence it had price rises under control.
"Over the past week, however, Fed officials have had to revert to more hawkish messaging. “It is clear that overall demand remains well in excess of supply and inflation is running far above our 2 per cent target. When it comes to monetary policy, we must restore balance to the economy,” said John Williams, the president of the New York Fed, on Tuesday. “We will we stay the course until our job is done.”
(They cant. Interest rates can slow inflation down but they can not fix the problem they created
which is:
TO MUCH $ IN THE SYSTEM...
Let me clue you in to what somebody said:
("Covid hits both the supply and consumptions sides. People couldn't go to work to produce the goods and people are under lockdowns and cant go buy what wasn't being produced. The central banks toolkit is not equipped to deal with both simultaneously" Yours truly (paraphrased) Central Baptist Bible Study the day before Lockdown hit KY. There were witnesses. Said it the day before lockdown over two years before it's being reported like it is now.
I also wrote on here that while everybody was just wanting things to "get back to normal" they could forget about it, it simply wasn't going to happen. Again this was very early on when COVID was hitting the states.)
Even if somebody just said that in May of last year what would you think?
Let alone say it in March of 2020.)
And this:
from the same individual :-)
TUESDAY, MAY 5, 2020
"some rampant
inflation from the central banks printing to much money")
So yeah.
If I can figure it out that early on?
The people at the Fed know whats up.
That caution may be particularly warranted because January data can be especially unreliable — and the jobs, inflation and retail sales figures recorded last month may yet be reversed.
(It's kinda what tends to happen these days if you look at the revisions to Decembers revised inflation #'s etc. Cherry pickin much? To make everyone feel better about the boat were in?)
While they are saying peace and safety...etc...)
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