Powell thinks the Fed is restrictive right now but many on Wall St think that’s a complete joke…. The Fed is pushing on a string

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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% .

See also  "Inflation is still too high. Further progress in bringing it down is not assured, and the path forward is uncertain," Fed Chair Powell said.

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.

www.newsbreak.com/news/3442771693147-inflation-rates-show-biden-is-gaslighting-americans-on-the-economy

Inflation increases 3.4% in April as prices remain elevated

www.foxbusiness.com/economy/cpi-inflation-april-2024.amp

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