This could explain a LOT about the November election.
“The gap between economists’ measurements of economic well-being and what consumers actually said they were feeling puzzled many researchers.”
Because the Fed and researchers measured the cost of living wrong. Still do. They lowered inflation in 1983 by changing the way they measured inflation.
The red line below measures home prices more like they did before 1983. They included the mortgage interest rate as part of the cost of housing. The cost of housing is the monthly mortgage payment not just the cost of rent.
https://www.imf.org/en/Publications/fandd/issues/2024/12/the-true-cost-of-living-marijn-bolhuis
This could explain a LOT about the November election.
"The gap between economists’ measurements of economic well-being and what consumers actually said they were feeling puzzled many researchers."
Because the Fed and researchers measured the cost of living wrong. Still do. They… pic.twitter.com/QCishK0Wkk
— John Wake (@JohnWake) December 6, 2024
Inflation Is Low But Living Costs Are High
"“The Consumer Price Index is 22% higher than in January 2020, see chart below.
This means that the prices of all goods and services that consumers spend money on are up, on average, 22%.
For example, since January 2020, the price of… pic.twitter.com/ONBkU7RWxQ
— John Wake (@JohnWake) December 7, 2024