I bet they cut it a half point after January.
this post was submitted on 07 Nov 2024
126 points (97.7% liked)
News
23287 readers
3819 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
In my opinion, something is going to break within 6 months.
The inflation is still high and the danger of recession is still here.
Inflation is down to 2.4%. We are fairly close to the Fed's target of 2%.
Which is a made up target with a wide margin. Many economists think a stable inflation rate might be 3% or higher! So 2.4% might already be on target.
Inflation is super down, like crazy down.
What's going to happen is that the ripple effects of the current good economy will finally hit people a few months into Trumps term, they'll give him all the credit, then when his policies decimate fucking everything and every poor person, they'll find a way to blame either democrats or trans people and learn nothing.
Inflation is down, but prices haven't come down--they are just not in increasing as fast as they were. We would technically need deflation for that to happen. That said, you are absolutely right that the 'better' economy will get attributed to Trump and he'll go on making messes elsewhere until he dies or leaves office.
Prices don't go down in a healthy economy. Asking for deflation is just asking for a great depression.
That's because crapitalism values profit over people, the environment or even business practices that would keep businesses open. Americans have a really hateful view of "fiduciary duty." It's morally/ethically bankrupt.
I think it will take longer than that, there's still a lot of rich people who don't think Trump will really do the tariffs or the mass deportation. Once it becomes clear that is really happening the economy will likely start getting all kinds of messed up fast.
Also, as others have told you, inflation is actually low again currently and that is why rates are coming down now. This is the "soft landing" that everyone was talking about, just in time for Trump to take the helm.
I don't get this ... People liked trump because he wasn't a politician and did what he said . And now that he says he will do things they don't believe him even when he's already put tariffs on shit last time...
The inflation is still high
Where are you getting that from? That's not what the numbers say.
Go buy a good used car right now.
Did you see the used car prices a few years ago? They're trending downward.
Inflation is the derivative, it's a rate of change. It doesn't say anything about absolute purchasing power. Past inflation contributed to raising prices massively. Currently, inflation is very low, so prices have stabelized to the new, higher level. To get them back down to pre-covid levels, you would need negative inflation (deflation), which most economists agree is a really bad thing. Instead, the goal must be to increase consumer purchasing power, by raising wages.
Used cars aren't a commodity. Mileage and age of available used cars has increased. Value for your dollar is continuing to go down. It's shrink flation.
[citation needed]
Go buy eggs, bread and milk. Better part of a twenty.
As I've pointed out elsewhere, that's not inflation. That's a lack of purchasing power, not inflation which is a loss of purchasing power. We lost that purchasing power over 2022 and 2023, but the difference in price between November of 2023 and now is relatively small.
Oh neat! Inflation only exists if it happened in the last 12 months. /s
Accumulative inflation is a thing, and it is up 21.8% since 2020.
Sure, but that has almost no impact on Fed policies.
Corporate greed, not inflation.
I literally just bought these three items earlier today. I spent 8. High end of $20 is either exaggerating, or you're buying some fancier foods than me.
These are dollar store brands. $4 milk, 4 bread, 4 eggs, $12+ tax. Location matters, so do food deserts. Last I checked, $12 was more than half of twenty.
That's a little under $10 where I am in Seattle. No tax on food here. If I feel like driving a little bit to Target, it's only $8. I definitely know of food deserts though. The town I grew up in only has Safeway and Walmart. The IGA closed down. Looking at prices, they are about the same as they are here which sucks because the incomes are nowhere near what they are here.
I'm alright with a week of groceries for the four of us choosing $125/wk but I know that is difficult for some.
That isn't an indicator of current inflation. Past inflation, maybe.
People confuse "everything is expensive" with "inflation is currently high". It's an understandable misunderstanding, and part of the reason why Kamala lost.
What post election uncertainty?
The uncertainty over what Trump might break with his buffoonery.
*will break