According to the New York Post, wholesale prices in the United States accelerated again in February. It is a sign that inflation pressures in the economy are high and hot.
Shocker! The Oval Office resident didn’t solve the inflation problem.
The Labor Department said Thursday that its producer price index—which tracks inflation before it reaches consumers—rose 0.6% from January to February, up from 0.3% the previous month.
Measured year over year, producer prices rose by 1.6% in February, the most since last September.
The figures could present a challenge for the Fed, which meets next week and is counting on cooling inflation as it considers when to cut its benchmark interest rate, now at a 23-year high.
The Fed raised rates 11 times in 2022 and 2023 to fight high inflation.
With surging PPI inflation, there’s also room to worry that consumer inflation will increase in the months ahead as summer begins, as producers pass along chronically high costs to end-use consumers, writes Townhall‘s Spencer Brown.
3 months ago, markets were expecting at least 6 rate cuts in 2024.
Now, 3 rate cuts is beginning to look optimistic as inflation data worsens.
This week’s Fed meeting will set the tone as we enter Q2 2024.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) March 16, 2024
Biden has to know CPI/PPI numbers next week. Let’s see what the FUTS look like Sunday night. pic.twitter.com/KsTu45EqKu
— HULK (@HulkCapital) March 9, 2024
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Anybody that votes for China Joe and the Democrat’s are traitors to this country! The Democrats are flooding the country with illegals to get more Congressional seats with the Census counting them as residents, we have no Justice system any longer. American last is the Democrat’s song! Remember Socialism is 0-41 in the world! Name on place it has worked………..I’ll wait. TRUMP!!!!
All of this, including the rapid dilution of the American citizenry by deliberate flooding of illegal aliens over the borders, is being done intentionally to destroy America; to bring it down to the level of third-world countries because those countries were demonstrably unable to rise to, or close to, the standard of living of America even with our massive economic assistance.
America turned its back on God, so God has turned His back on us. All one has to do is read the Bible; the owner’s manual for life.
You could buy three 12 packs of pepsi for $11 dollars. Now it costs $7 for one. It goes on and on. Remember this is the new norm, prices will never go down. When I was a kid comic books cost 12 cents a candy bar for 5 cents, a cup of coffee was 15 cents. Then we got Nixon, and if he was bad we got Carter who was really, really the worst.
I went to Dollar General a couple of months ago. I bought 2 – 12 packs of Pedigree dog food, 2 – 20 lb. bags of cat food, and 2 Tombstone pizzas. $100 bux? I looked at the cashier and said “that sure don’t look like $100 bux?” She replied “this country is going to hell” As I drove away, I wondered just how in the hell she does it on her salary?
At the local tobacco store, my fav brand of cigs is now $250 bux for two cartons. Young guy behind the counter said these have really gone up?
I replied, “A few years ago, these were $10 bux a carton.” His jaw nearly hit the floor. He could absolutely not fathom that.
How many Americans ever stop to think about the effects of Biden inflation on pensioners? Even American living abroad are effected because a major component and driving force is the price of energy. Here is ant example: powdered milk this week jumped 42%. Two weeks ago I could save 55 cents a quart over fresh milk, or about $1/week/person. Now the savings is 13 cents, into they jump the price of fresh milk. Since Biden became president three years ago the price of fresh milk has gone up 50%,
In that three years my weekly grocery bill went from $100/week average to $180 and I have all but cut beef from my diet.
Those who are younger? In 10 years everyone over 70 may be euthanised. Then you will not worry about high prices.