The Bureau of Economic Analysis (BEA) published its final estimate of the third-quarter gross domestic product (GDP). In the July-to-October period, the U.S. economy grew 4.9 percent, down from the second estimate of 5.2 percent, and matching the advance estimate. What makes the BEA data interesting is that personal consumption was revised lower, contributing 2.11 […]
Inflation
U.S. inflation expectations continue to slow heading into 2024
The Federal Reserve Bank of New York (FRBNY) released the results of its November Survey of Consumer Expectations (SCE). U.S. households expect inflation to continue easing heading into 2024, with one-year-ahead expectations coming in at 3.4 percent. It was a boring read as much of the data was unchanged from the previous month. That said, […]
WATCH: Exposing the CPI scam
Financial markets roared on Tuesday as the annual inflation rate slowed to 3.2 percent in October. The core consumer price index (CPI) eased to four percent. Next on the inflation calendar will be the producer price index (PPI), which has been gaining steam in recent months. The most notable facet of the Bureau of Labor […]
Vox: ‘The problem isn’t inflation. It’s prices.’
In one of the funniest headlines you will read today, if not this year, comes from Vox. “The problem isn’t inflation. It’s prices.” Yes, you read that right. The left-leaning publication writes: “The root of what’s going on here can feel obvious: blame inflation, which picked up in mid-2021 and throughout 2022. But that isn’t […]
U.S. dollar purchasing power lost 20% since before the pandemic
It is widely known that Americans’ purchasing power has vanished over the last 100 years. But the last few years make the time before the coronavirus pandemic seem like a period of fiscal responsibility. Here is Federal Reserve data showing that the U.S. dollar’s purchasing power has cratered 20 percent since even before the COVID […]