How long will people keep bending over for the Fed’s destruction of their purchasing power & standard of living?

The destruction of earnings power continues:

Real (inflation-adjusted) earnings down for a 26th consecutive month. The longest stretch in US history by far (twice as long as the Global Financial Crisis), and represents 93% of Biden's tenure pic.twitter.com/wbDXqwz0ti

— zerohedge (@zerohedge) June 13, 2023

Prices Increase Another 4 Percent

CPI Tumbles To 2-Year Lows, But Goods Prices Reaccelerate; Inflation Outpaces Wages For 26th Straight Month

With CPI set for a ‘historic drop’, the market has FOMO’d into this print (and tomorrow’s FOMC) with the headline print expected to tumble from +4.9% YoY to +4.1% YoY. However, The Fed’s new favorite signal from The BLS is Core Services CPI Ex-Shelter, and that declined to +4.6% YoY – lowest since March 2022.

The headline CPI was expected to rise 0.1% MoM (+4.1% YoY) and it did, but the YoY print dropped to 4.0%. That is the 11th straight monthly decline in the YoY print to the lowest since March 2021.

This is the longest streak of monthly headline CPI declines since 1921.

And inflation continues to outpace wage gains for the 26th straight month (out of 28 months of Biden’s term)

h/t Simian_Stacker