We had good news on the inflation front in April:
Inflation continues to drop from its January spike. On a conventional year-over-year basis, headline inflation came in at 2.7% and core inflation at 2.8%. These are very reasonable numbers.
Cats, charts, and politics
We had good news on the inflation front in April:
Inflation continues to drop from its January spike. On a conventional year-over-year basis, headline inflation came in at 2.7% and core inflation at 2.8%. These are very reasonable numbers.
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According to the First Amendment as interpreted by the textualists of the NY Times, this will be given 1/10 the coverage of an equal sized increase in inflation.
+1!
This is good news! Now the question becomes has the Fed once again waited too long on interest rates resulting in a recession?
I fully expect the NYT to tell Americans that April inflation remains 50% higher than under Trump and will spell doom for Biden's economic message.
They'll do this, not because of false equivalence, but because Trump was convicted on 34 counts yesterday and prior to the trial they were sure he had a chance to beat the charges. Having been shown to be fools, they must now redirect Americans to look away at something more important.
To follow that up, they'll refocus coverage of the border and immigration in a week or so.
They will definitely paint this as terrible economic news. But I suspect they will just straight up declare this is bad news. Black is white, up is down, last month higher PCE was bad because INFLATION!, but this month lower PCE is bad because OHNOES, CONSUMERS STRUGGLING!!!
Just straight up mendacity.