JPMORGAN: “.. the speed of US #disinflation has been more pronounced than expected, while core inflation pressures in most other regions have stayed firmer. US core inflation fell to just 1.6%ar in the three months to July.” 🇺🇸 #CPI pic.twitter.com/0QdtHjkGxq
— Carl Quintanilla (@carlquintanilla) August 26, 2024
And the thing is every reporter writing on this knows that prices can't fall. Wages are up 23 percent since the pandemic. We CAN'T have pre-pandemic prices, but the media keep using this impossibility to whack Biden-Harris. https://t.co/yCSzIUm4Zz
— Dean Baker (@DeanBaker13) August 25, 2024
Powell’s speech attributing inflation largely to transitory pandemic effects was apolitical, but it implicitly absolved Biden’s policies. So sure enough, tech bros who showed their political acumen by boosting RFK Jr. are declaring that government spending causes inflation pic.twitter.com/B1EZooZe9s
— Paul Krugman (@paulkrugman) August 24, 2024
Your regular reminder that if we measured consumer prices the way other countries do, without a large imputation for rent on owner-occupied housing, inflation is fully back to prepandemic levels pic.twitter.com/ldILRt6Vne
— Paul Krugman (@paulkrugman) August 19, 2024
Someday some reporter will figure out how to explain to the American public how post-Covid inflation was a worldwide phenomenon caused by pent-up demand and that the Biden/Harris administration handled it better than every other country. pic.twitter.com/MnEUUWgVJV
— Bill Prady ⚛️ (@billprady) August 16, 2024
Latest inflation data allows me to provide an update on real wages. pic.twitter.com/f43aGZI573
— Justin Wolfers (@JustinWolfers) August 14, 2024
Sad! 