This is an excellent read.
The rally since October has created an even larger wealth gap between the rich and the poor.
Powell thinks the Fed is restrictive right now but many on Wall St think that’s a complete joke.
As a result the economic divide keeps widening pic.twitter.com/z5bgYqop1m
— QE Infinity (@StealthQE4) May 16, 2024
#recession … #Fed Pushing on a String edition t.co/45qODWIen5
— Invariant Perspective (@InvariantPersp1) May 16, 2024
Dow Jones Reaches 40,000 For 1st Time
US stocks gained some traction after the Thursday open to trade above the flatline, slightly extending the record levels from earlier in the week amid further support from…
More here: t.co/t5tNk3mpX5 pic.twitter.com/K545bAMpNL
— TRADING ECONOMICS (@tEconomics) May 16, 2024
Biden's campaign is using the Federal govt for his campaign get-out-the-vote (GOTV) effort. t.co/0uJ6INRVL2
— Wall Street Silver (@WallStreetSilv) May 16, 2024
Inflation rates show Biden is gaslighting Americans on the economy
Well DUH….
Good news: Inflation eased a tiny bit in the latest Consumer Price Index numbers.
Bad news: Most other indicators suggest more trouble, not less, ahead.
CPI for April came in at 3.4% higher than a year ago — easing from March’s 3.5% spike.
But we’re still at levels well above what Federal Reserve chief Jerome Powell wants .
And the Producer Price Index for April saw a 0.5% rise, above economists’ 0.3% prediction — and PPI generally indicates where CPI is headed, since producers have little choice but to pass higher costs on to consumers.
Plus, Consumer Confidence in April was at its lowest level since July 2022, when inflation was at a blistering 8.5% .
Meanwhile, interest rates have been at a 23-year high since last July; Wall Street keeps hoping the Fed will cut rates, but Powell’s (rightly) promising nothing.
Which leaves the working and middle class squeezed, and racking up more debt: Americans have already spent their pandemic savings while credit-card balances soar.
Meanwhile, job growth slowed last month , and the majority of jobs added were in government and health care (which is itself government-dominated): Private -sector employment looks flat.
Inflation increases 3.4% in April as prices remain elevated
www.foxbusiness.com/economy/cpi-inflation-april-2024.amp