This is NOT good for restaurants. Less discretionary income, less eating out. https://www.fa-mag.com/news/inflation-s-ending-restaurants--post-covid-boom-70252.html
Let the interest rate float and take money making ability out of the hands of governments and this won't happen. Just sayin'.
UK inflation has topped 10%. Mushy peas and jellied eels are getting expensive. The Prime Minister resigned; her gov’t has toppled.
https://www.cnbc.com/2022/10/24/jpm...ay-fall-further-as-the-fed-raises-rates-.html “I think putting inflation back in a box is very important,” Pinto told CNBC in an interview. “If it causes a slightly deeper recession for a period of time, that is the price we have to pay.” “I don’t think we’ve seen the bottom of the market yet,” he said, adding that corporate earnings expectations were still too high. Pinto, who leads the world’s biggest investment bank by revenue, called cryptocurrencies a small asset class that is “kind of irrelevant” at the moment.
Euros ready to keep jacking up the interest rates to tackle high inflation. "The central bank has few options but to deliver another huge rate hike and sound hawkish," said Nordea Chief Analyst Jan von Gerich. No messing around with red-hot inflation: Five questions for the ECB
https://thehill.com/policy/finance/3700286-heres-how-a-house-gop-might-tackle-inflation/ Republican lawmakers vowed to “regain American energy independence and lower prices at the pump” by maximizing the production of domestic-made energy and slashing the permitting process to lessen the U.S.’s reliance on other countries.
How Biden could have warded off inflation the Fed did start raising interest rates in March of this year. But that was almost a year after inflation began to rise above normal levels. At the end of 2020, inflation was a negligible 1.3%. By June of 2021, it had hit 5.3%, well above the Fed’s 2% target. Yet the Fed did nothing for another 9 months. Why did it wait so long? There was fevered debate in the summer of 2021 over whether inflation was transitory or permanent. Biden insisted it was transient, and Fed chair Jerome Powell basically agreed.
The Fed could 'risk the lives of millions of Americans' by the way it's choosing to tackle inflation, a top Democratic lawmaker says Sherrod Brown (D Ohio) It's the Federal Reserve's job to combat rising prices in the country — but a top Democratic lawmaker isn't happy with the way it's choosing to do so. "The Federal Reserve's tools work to lower inflation by reducing demand for economic activities sensitive to interest rates," Brown wrote. "However, a family's 'pocketbook' needs have little to do with interest rates, and potential job losses brought about by monetary over-tightening will only worsen these matters for the working class."* "For working Americans who already feel the crush of inflation, job losses will make it much worse. We can't risk the livelihoods of millions of Americans who can't afford it," he added. *it's good to see there's at least one champion of the working class left in this government.
Biden to warn in Syracuse that Republicans will boost inflation Biden: Don't vote for Republicans, that would lead to high inflation... Biden will argue that the Republican economic plans benefit the wealthy and increase inflation.
https://www.usnews.com/news/us/arti...as-prices-looming-over-sports-biz-concessions One single 16 oz can of Corona for $10.25...
In some boardroom in Mexico, D.F.: Say, maybe we keep the price the same, just make the bottle around 40% smaller. Nobody would notice...
I honestly don't understand why anyone goes to an NFL game. Tickets are expensive as hell. Even in a "good" seat, you can't see that well. And if you want to park your car or get anything to eat or drink, you get bent over like a drag queen in a prison for crappy food and beer. Much rather smoke some ribs, get some good beer, and watch the game at home for about 1/100th the cost.
This is Larry Summers in Oct 2021: 'Woke' Fed risks losing control of inflation, says former Treasury Secretary Larry Summers Bloomberg - Are you a robot?
Note the Fed didn’t adequately warn investors such as myself that they fundamentally changed policy. I would have acted differently if they did.
https://www.nytimes.com/2022/10/28/business/fedeal-reserve-inflation-wages.html Bad news for the Fed as inflation and wages continue to climb rapidly.
Bloomberg - Are you a robot? Paychecks are surging in some of the US cities with the highest rates of inflation, suggesting that a wage-price spiral is now firmly embedded in the economies of metro areas from Miami to Phoenix.
AOC is totally clueless. And the scary thing is that enough voters in her district believe her line of garbage.
Weeeeeeeelllllllllllllllllllll… The Fed is part of the government. So is the Congress. So is the EPA.