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https://www.marketplace.org/2023/02/14/bls-index-consumer-price-index-formula-calculation/
If CPI was 10% last year, and its 3% this year, that means its up 13.3% total over 2 years ago. Getting back to 2% inflation is meaningless if MANIPULATED inflation numbers still cant hit 2% and employees cant afford to live.
Yes, prices are absolutely up from where they were two years ago, and many people are absolutely struggling to afford to live, because grocery prices in particular have remained elevated. What is also true is that prices aren't going up anymore like they were last year or the year before, and prices for lots of things that aren't groceries have actually come down some. What I said to start this was that as prices stabilize or come down, it takes time for that to start positively impacting people's pocketbooks
Still no source
Oh boy, the guy who tries to call me out for not knowing anything cant even click a URL
Tell us you don't understand macroeconomic statistics without telling us you...ah you get the idea.
The crux of the issue here is that "the economy" as Yellen is concerned with it, is not "the economy" as that rando from Michigan is concerned with it.
Not that either is more or less correct, they're just different.
Yellen always sounds tone deaf though and they really shouldn't put her in front of a hot mic as much as they do. She's not wrong in the things she's saying...but without context and careful speech-crafting, it always lands as "Let them eat financial cake."
Lol, this is unambiguously the message they're sending, and they dropped all subtlety.
"You dont know what youre talking about"
Then instead of just griping about Yellen, correct my mistakes.