Trump Media and Tech Group (Politics Allowed~Non-Moderated) (DJT)

[blackhawks]

'They', dumbass? The farmers with fewer chickens because of bird flu?

Everything is 'up' across the world. The fact of the matter is that an overall inflation increase of around 3% is a huge drop from a year ago. SS increases mirror the inflation numbers almost exactly, up 8.7% for the '23 benefit year, 3.3% for '24.

What did you want to do to tame inflation, hope the Fed would be even more aggressive with STILL no end in sight for the interest rate hikes?

You decided that Biden is responsible for the inflation, a hyper-partisan simpleton's take on a complex issue that has many causes. THE catalyst for inflation occurred in 2020. If PRESIDENT swallow bleach hadn't decided his reelection was more important than following the science it would have been a less lethal, lower inflation, pandemic. Period.

https://www.nbcnews.com/politics/donald-trump/trump-told-bob-woodward-he-knew-february-covid-19-was-n1239658
Trump told Bob Woodward he knew in February that COVID-19 was 'deadly stuff' but wanted to 'play it down'
"It's not just old people," Trump told Woodward, acknowledging the gravity of the disease, The Washington Post reported.

Despite the early warning about the virus's deadliness and its ability to be transmitted through the air, Trump continued to hold packed political rallies throughout February and told reporters at the White House on Feb. 27: "This is a flu. This is like a flu."

On March 9, weeks after he told Woodward that the coronavirus was more than five times deadlier than the flu, Trump tweeted: "So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that!"

Yeah, think about that and about what ensued after that moronic take. And can you imagine what Trump would have said about inflation if reelected? It's the supply chain, it's transitory, it'll be down by Easter, Labor Day, Christmas. And he would have absolutely lost his shit over the relentless interest hikes by the Fed.

https://www.bls.gov/opub/mlr/2023/beyond-bls/what-caused-inflation-to-spike-after-2020.htm#:~:text=So%2C%20from%20this%20research%2C%20the,in%20the%20auto%2Drelated%20industries.

January 2023
What caused inflation to spike after 2020?
Summary written by: Richard Hernandez

The United States was experiencing a period of low inflation before 2020. Then, in early 2020, the coronavirus disease 2019 (COVID-19) created various market problems, causing prices for goods and services to rise.

In “Understanding U.S. inflation during the COVID era” (National Bureau of Economic Research, Working Paper 30613, October 2022), Laurence M. Ball, Daniel Leigh, and Prachi Mishra conduct indepth research to address the questions, What has caused U.S. inflation to rise since 2020, and where is it headed?

To answer these questions, the authors break down the headline inflation number into two categories: core inflation and deviations from the core inflation number. Core inflation is the level of slack or tightness in the labor market. Deviations from the core inflation number are the large changes in the price of a good or service in a particular industry. These deviations can also be unexpected inflation shocks to the headline inflation figure. These shocks can then lead to a pass-through inflation increase to core inflation.

As the labor market tightened during 2021 and 2022, core inflation rose as the ratio of job vacancies to unemployment increased. This ratio is used to measure wage pressures that then pass through to the prices for goods and services. As workers bargain for better pay, firms begin to increase prices. So, from this research, the authors find that three main components explain the rise in inflation since 2020: volatility of energy prices, backlogs of work orders for goods and service caused by supply chain issues due to COVID-19, and price changes in the auto-related industries.

To answer the question of where inflation is headed, the authors point to two factors: the relationship between vacancies and unemployment and long-term inflation expectations, because the Federal Reserve tames inflation by increasing interest rates. The authors forecast the December 2024 inflation level to range from 2.3 to 4.8 percent.

Ball and colleagues conclude that the rise in the ratio of job vacancies to unemployment contributed almost a third of the rise in core inflation of 2.0 percentage points over a 12-month period. The 2.0-percentage-point increase in inflation explains about half the rise in core inflation, climbing from 2.3 to 6.9 percent (total increase of 4.6 percentage points). And finally, they found that the main contributors to the headline inflation shocks were energy prices (2.7 percentage points) and a backlog of work (1.7 percentage points).