President Joe Biden is running victory laps because inflation growth is lower than it was a year ago. The May consumer price index (CPI) eased to four percent, down from 4.9 percent. Core inflation, which strips the volatile food and energy sectors, dipped to just 5.3 percent, down from 5.5 percent. Of course, it is […]
Inflation
U.S. money supply contracts for fifth straight month, still 33% higher than before pandemic
The printing press is grinding to a halt. According to fresh data from the Federal Reserve, the nation’s money supply continues to contract. In April, the M2 money stock print tumbled nearly five percent, representing the fifth consecutive contraction, which is the first time since the Fed launched the series. Despite the substantial decline, the […]
U.S. money supply suffers sharpest contraction since Great Depression
By: Ryan McMaken Money supply growth fell again in March, plummeting further into negative territory after turning negative in November 2022 for the first time in twenty-eight years. March’s drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years. Since April 2021, money supply growth has slowed quickly, […]
U.S. inflation still 4.9% higher than a year ago, core CPI remains sticky
The U.S. annual inflation rate slowed to 4.9 percent in April, down from five percent in March. Economists had expected anything between 4.9 percent and 5.2 percent. The monthly consumer price index (CPI) rose 0.4%, unchanged from the previous month. The core inflation rate, which eliminates the volatile food and energy sectors, slowed to 5.5 […]
Inflation continues to be sticky, stubborn for consumers, new FRBNY data show
Inflation is expected to remain sticky and higher than what the Federal Reserve expects. According to the Federal Reserve Bank of New York’s Survey of Consumer Expectations, the one-year-ahead inflation is expected to be at 4.4 percent, down slightly from the 4.7 percent print in the March report. The three- and five-year-ahead expectations jumped to […]