Fed’s Waller: Interest rates are likely high enough to bring inflation back to 2% target

Afwa zaki

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Nov 28, 2023, 2:31:24 PM11/28/23

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BTR1701

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Nov 28, 2023, 2:52:29 PM11/28/23

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In article <b992ec65-af3c-438a...@googlegroups.com>,

Afwa zaki <afwaz...@gmail.com> wrote:

> A key Federal Reserve official said Tuesday that he is "increasingly
> confident" that the Fed's interest rate policies will succeed in bringing
> inflation down to the central bank's 2% target level.

That only means prices will continue to rise by 2% instead of 6% or 8%.
Doesn't mean the already sky-high prices will drop. We're stuck with $16
Big Mac meals and $60 meals for one at PF Changs forever now.

suzeeq

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Nov 28, 2023, 3:22:52 PM11/28/23

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Some grocery items have come down. But no, they're not going to be at
the pre-pandemic levels which I think consumers are expecting.

Ubiquitous

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Dec 2, 2023, 4:14:09 AM12/2/23

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atr...@mac.com wrote:
> Afwa zaki <afwaz...@gmail.com> wrote:

>> A key Federal Reserve official said Tuesday that he is "increasingly
>> confident" that the Fed's interest rate policies will succeed in bringing
>> inflation down to the central bank's 2% target level.
>
>That only means prices will continue to rise by 2% instead of 6% or 8%.

It was never 6 or 8%. It was easily in the mid-teens.

--
Let's go Brandon!

Ubiquitous

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Dec 2, 2023, 4:15:02 AM12/2/23

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That's not deflation; that's shrinkflation.

Nyssa

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Dec 2, 2023, 9:41:04 AM12/2/23

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Or skimpflation where the manufacturers substitute less
expensive ingredients for the good stuff.

A few examples would be high fructose corn syrup for sugar,
vanillin instead of real vanilla, and fake chocolate substitutes
for cocoa or cocoa butter. Plus many, many more.

Nyssa, who buys very few processed foods and goes with
the basic ingredients to cook real food (exception: condiments)

anim8rfsk

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Dec 2, 2023, 11:34:17 AM12/2/23

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VANILLIN?!?

--
The last thing I want to do is hurt you, but it is still on my list.

Woke Ken

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Dec 2, 2023, 11:44:23 AM12/2/23

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California Republican from Whittier Nixon dictated price controls in 1971. Was he emulating Castro or Mao?

shawn

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Dec 2, 2023, 11:48:35 AM12/2/23

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On Sat, 2 Dec 2023 09:34:10 -0700, anim8rfsk <anim...@cox.net>
wrote:

Yep, that's the main component in the flavor of vanilla and is what
you will find in all the cheap vanilla flavorings. Of course with real
vanilla there's many more components that add to the flavor than just
vanillin.

suzeeq

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Dec 2, 2023, 12:06:45 PM12/2/23

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Artificial vanilla. And those ingredients Nyssa listed have been in
products for years.

anim8rfsk

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Dec 2, 2023, 1:20:42 PM12/2/23

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Seriously doesn’t that sound like a Kim possible evil nemesis?

Nyssa

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Dec 2, 2023, 2:42:35 PM12/2/23

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True. But some producers are using them now to make their
products cheaper to produce that didn't do that before.

One of the products I remember hearing about is Quaker
Granola Dips. It used to use real chocolate (cocoa), but
has switched to a cheaper chocolate flavor alternative.
It's listed on the back of the box, but how many regular
buyers of the product will check the ingredients just in
case something has been swapped out?

Toss in that some products have already shrunk package
sizes, then skimped on ingredient substitutes, and you've
got a much higher price inflation than what's being reported.

Oh, and many of the consumer price inflation rates reported
by the government(s) *leave out* food and energy from the
calculation too. Name the two items that most people can't
live without...food and energy. Toss those in, and you'll
get much higher inflation rates. (Yeah gas is down a bit,
but food keeps going up...plus being skimped or shrunk.)

Nyssa, who is a careful shopper but not eating isn't an
option

BTR1701

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Dec 3, 2023, 1:31:27 AM12/3/23

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In article <ukg1b4$2fs8n$1...@dont-email.me>,

Nyssa <Ny...@LogicalInsight.net> wrote:

> Oh, and many of the consumer price inflation rates reported
> by the government(s) *leave out* food and energy from the
> calculation too.

Exactly. They leave out the major categories that the average person has
to deal with in their budgets and gaslight you that inflation is much
lower than your lyin' eyes tell you it is.

Adam H. Kerman

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Dec 3, 2023, 4:11:08 AM12/3/23

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BTR1701 <atr...@mac.com> wrote:
>Nyssa <Ny...@LogicalInsight.net> wrote:

>>Oh, and many of the consumer price inflation rates reported
>>by the government(s) *leave out* food and energy from the
>>calculation too.

>Exactly. They leave out the major categories that the average person has
>to deal with in their budgets and gaslight you that inflation is much
>lower than your lyin' eyes tell you it is.

It's reported both ways. The Fed cannot judge inflation on highly
volatile prices. Also CPI-U includes new home prices, which no one bus
every year.

anim8rfsk

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Dec 3, 2023, 5:29:21 AM12/3/23

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Adam H. Kerman <a...@chinet.com> wrote:
> BTR1701 <atr...@mac.com> wrote:
>> Nyssa <Ny...@LogicalInsight.net> wrote:
>
>>> Oh, and many of the consumer price inflation rates reported
>>> by the government(s) *leave out* food and energy from the
>>> calculation too.
>
>> Exactly. They leave out the major categories that the average person has
>> to deal with in their budgets and gaslight you that inflation is much
>> lower than your lyin' eyes tell you it is.
>
> It's reported both ways. The Fed cannot judge inflation on highly
> volatile prices. Also CPI-U includes new home prices, which no one bus
> every year.

Flippers do.

shawn

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Dec 3, 2023, 6:54:07 AM12/3/23

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On Sun, 3 Dec 2023 03:29:15 -0700, anim8rfsk <anim...@cox.net>
wrote:

>Adam H. Kerman <a...@chinet.com> wrote:
>> BTR1701 <atr...@mac.com> wrote:
>>> Nyssa <Ny...@LogicalInsight.net> wrote:
>>
>>>> Oh, and many of the consumer price inflation rates reported
>>>> by the government(s) *leave out* food and energy from the
>>>> calculation too.
>>
>>> Exactly. They leave out the major categories that the average person has
>>> to deal with in their budgets and gaslight you that inflation is much
>>> lower than your lyin' eyes tell you it is.
>>
>> It's reported both ways. The Fed cannot judge inflation on highly
>> volatile prices. Also CPI-U includes new home prices, which no one bus
>> every year.
>
>Flippers do.

Not for now. With the high interest rates flipping home has gone out
of fashion. Now if interest rates come back down we may see a return
of the flippers but for now it's not easy to buy and flip homes
because buying a new home has become much more difficult (unless you
can buy it outright which most people can not.)

Woke Ken

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Dec 3, 2023, 12:35:55 PM12/3/23

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Not some benign Market trend or Volatile. Speculators hoard food and energy contracts on Chicago Board of Trade and London Exchange. Cannibals be cannibalizing

The Horny Goat

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Dec 4, 2023, 11:06:37 AM12/4/23

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On Sat, 02 Dec 2023 14:41:40 -0500, Nyssa <Ny...@LogicalInsight.net>
wrote:

>Toss in that some products have already shrunk package
>sizes, then skimped on ingredient substitutes, and you've
>got a much higher price inflation than what's being reported.

There's been a minor kerfuffle recently iin Canada about Kraft dinner
reducing their package size from 7 3/4 oz to 7 oz (which they reported
had been done in the US several years back)

The good news is the price on Kitty Litter is down substantially but
one can't live on that!

>Oh, and many of the consumer price inflation rates reported
>by the government(s) *leave out* food and energy from the
>calculation too. Name the two items that most people can't
>live without...food and energy. Toss those in, and you'll
>get much higher inflation rates. (Yeah gas is down a bit,
>but food keeps going up...plus being skimped or shrunk.)
>

In Canada a lot of that is due strictly to increases in the fuel tax -
which has absorbed most of the downward trend in fuel prices. Gotta
subsidize building of public transit you know? (Which my part of
Vancouver is scheduled for in 2040 though has been paying for since
1995..... I'll likely be gone by then! Oh well my granddaughter will
be old enough to be riding it by then! (she'd a toddler now))

The Horny Goat

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Dec 4, 2023, 11:11:50 AM12/4/23

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On Sun, 03 Dec 2023 06:53:59 -0500, shawn
<nanof...@notforg.m.a.i.l.com> wrote:

>Not for now. With the high interest rates flipping home has gone out
>of fashion. Now if interest rates come back down we may see a return
>of the flippers but for now it's not easy to buy and flip homes
>because buying a new home has become much more difficult (unless you
>can buy it outright which most people can not.)

Perhaps but the interest rate rise was inevitable from the moment the
government first started bringing in COVID supports. I'm not saying
those were a bad thing - it was making the best of a horrible
situation - as a personal note I well remember March 2000 when over a
course of a single weekend our sales dropped 75% and stayed there for
3 months. My brother and I went without salary for that period just to
pay the rent and not close permanently - as well as spending several
thousand on plexiglass shields - but we didn't miss a day and our mail
order business kept us barely solvent.

Bottom line is it was obvious in March 2020 that all this would end
eventually and then there would be the price to pay for so increasing
the money supply and that it would probably be paid by inflation on a
scale not seen since the 1980s/early 90s.

Dimensional Traveler

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Dec 4, 2023, 3:20:05 PM12/4/23

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Robert Reich testifies before Congress
https://www.youtube.com/watch?v=beFFQHRF40M

You Are Being Lied to About Inflation | Robert Reich
https://www.youtube.com/watch?v=Zi4KMCQuQYE

--
I've done good in this world. Now I'm tired and just want to be a cranky
dirty old man.

BTR1701

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Dec 4, 2023, 10:38:26 PM12/4/23

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On Dec 4, 2023 at 12:20:00 PM PST, "Dimensional Traveler" <dtr...@sonic.net>
wrote:

If inflation isn't the problem we think it is, perhaps Mr. Reich could explain
why the dish I've ordered at my favorite Mexican joint, which was consistently
$14.40 from 2011 t0 2019 is now $29.30.

Or the same PF Chang's meal that I've been ordering since 2004 and had always
hovered between $26 and $33, (depending on where in the country I was when I
ordered it) is now $61 (and that's before tip).

LOTTO595 สล็อตแตกหนัก

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Dec 4, 2023, 11:07:00 PM12/4/23

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FPP

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Dec 5, 2023, 5:21:11 AM12/5/23

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Sure. It isn't inflation. Food prices are rising faster than the rate
of inflation.

https://www.restaurantbusinessonline.com/financing/restaurant-prices-keep-rising-faster-inflation

They're gouging you.

--
"Thou shalt not make a machine in the likeness of a man’s mind." - OC
Bible 25B.G.
https://www.dropbox.com/s/ek8kap93bmk0q5w/D%20U%20N%20E%20Part%20II.jpg?dl=0

Gracie, age 6.
https://www.dropbox.com/s/0es3xolxka455iw/BetterThingsToDo.jpg?dl=0

Adam H. Kerman

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Dec 5, 2023, 12:16:50 PM12/5/23

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BTR1701 <atr...@mac.com> wrote:
>Dec 4, 2023 at 12:20:00 PM PST, Dimensional Traveler <dtr...@sonic.net>:

>>On 12/4/2023 8:11 AM, The Horny Goat wrote:

>>>Sun, 03 Dec 2023 06:53:59 -0500, shawn <nanof...@notforg.m.a.i.l.com>:

Inflation is now and forever will be a monetary problem.
-- What Milton Friedman wanted engraved upon his tombstone.

The Horny Goat

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Dec 8, 2023, 2:15:47 PM12/8/23

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On Tue, 5 Dec 2023 17:16:44 -0000 (UTC), "Adam H. Kerman"
<a...@chinet.com> wrote:

>>Or the same PF Chang's meal that I've been ordering since 2004 and had always
>>hovered between $26 and $33, (depending on where in the country I was when I
>>ordered it) is now $61 (and that's before tip).
>
>Inflation is now and forever will be a monetary problem.
>-- What Milton Friedman wanted engraved upon his tombstone.

I haven't seen anything to that degree but no question the rare times
I go out to eat a meal, one of my favorite items that was $14.99 (pre
tax pre tip) in 2021 is now at $ 19.99

As for averages, well they're averages which means some items will
always be up more than the average percentage other items less. (And
the list of which is which will change over time) That's not a
societal problem, that's basic mathematics.

LOTTO595 v.6

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Dec 8, 2023, 2:22:15 PM12/8/23

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LOTTO595 v.6

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Dec 8, 2023, 2:22:31 PM12/8/23

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trotsky

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Dec 10, 2023, 9:16:57 AM12/10/23

to

So you're saying the luxury of going out to eat is a good way to gauge
inflation? Are you an idiot or just stupid?

trotsky

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Dec 10, 2023, 9:21:39 AM12/10/23

to

One thing's for sure, with all the "illegals" "flooding the country" we
know it can't be the lack of people for menial jobs like dishwasher, right?

BTR1701

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Dec 12, 2023, 4:43:29 AM12/12/23

to

Here's a description of the problem that's simple enough for even you and Effa
to understand:

https://www.dropbox.com/scl/fi/lhntotbma8ybrkysyg7bm/Inflation.png?rlkey=d1ka239wlcme6mx68c4b2hbis&dl=0

FPP

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Dec 13, 2023, 9:28:44 AM12/13/23

to

Shit for brains puts out another pretty (useless) meme. Typical.

Ubiquitous

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Dec 13, 2023, 1:10:08 PM12/13/23

to

"trotsky" wrote:
> On 12/12/23 4:43 AM, BTR1701 wrote:
>> On Dec 10, 2023 at 6:21:33 AM PST, "trotsky" <gms...@email.com> wrote:

>>> One thing's for sure, with all the "illegals" "flooding the country" we
>>> know it can't be the lack of people for menial jobs like dishwasher,
>>> right?
>>
>> Here's a description of the problem that's simple enough for even you and
>> Effa to understand:
>>
>> https://www.dropbox.com/scl/fi/lhntotbma8ybrkysyg7bm/Inflation.png
>

> Shit for brains puts out another pretty (useless) meme. Typical.

Now now, "trotsky". No need to attack the messenger when you loose a debate!

Ad hominem noted. Get back to us when you have a real argument to make.

BTR1701

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Dec 13, 2023, 9:50:05 PM12/13/23

to

On Dec 13, 2023 at 10:10:00 AM PST, "Ubiquitous" <web...@polaris.net> wrote:

> "trotsky" wrote:
>> On 12/12/23 4:43 AM, BTR1701 wrote:
>>> On Dec 10, 2023 at 6:21:33 AM PST, "trotsky" <gms...@email.com> wrote:
>
>>>> One thing's for sure, with all the "illegals" "flooding the country" we
>>>> know it can't be the lack of people for menial jobs like dishwasher,
>>>> right?
>>>
>>> Here's a description of the problem that's simple enough for even you and
>>> Effa to understand:
>>>
>>> https://www.dropbox.com/scl/fi/lhntotbma8ybrkysyg7bm/Inflation.png
>>
>> Shit for brains puts out another pretty (useless) meme. Typical.
>
> Now now, "trotsky". No need to attack the messenger when you loose a debate!

And Effa resurrects himself just to drop back in and remind us all once again
that he has zero sense of humor.

moviePig

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Dec 13, 2023, 11:21:05 PM12/13/23

to

I see no sign here of FPP's "resurrection". Are there stigmata?

FPP

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Dec 14, 2023, 6:16:01 AM12/14/23

to

Somehow, pig, if I don't have an opinion on Thanny's Outrage of the Day
I've somehow left the group.

I guess I forgot that friendless and childless scolds like Thanny don't
have much to do around the holidays.

Ubiquitous

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Dec 14, 2023, 8:00:59 AM12/14/23

to

And remind us that he left the newsfroup and won't post here any more.

trotsky

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Dec 16, 2023, 6:04:19 AM12/16/23

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What exactly do you troons have your panties in a bunch for this time?

trotsky

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Dec 16, 2023, 6:05:59 AM12/16/23

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You know how it is with those guys, it's covert vs pervert.

Ubiquitous

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Dec 18, 2023, 7:55:02 AM12/18/23

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"trotsky" wrote:

>I guess I forgot that friendless and childless scolds like Thanny don't
>have much to do around the holidays.

Projection noted, "trotsky".

trotsky

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Dec 19, 2023, 5:59:52 AM12/19/23

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He's like a broken record. We should start calling him Marvin Gay.

trotsky

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Dec 23, 2023, 5:13:44 AM12/23/23

to

Excellent, so you knew what you were saying was a joke all along. That
tracks.