The Federal Reserve cut its key interest rate by a quarter-point in response to a steady decline in once-high inflation that angered Americans and helped drive Trump’s election victory.
As I’ve pointed out elsewhere, that’s not inflation. That’s a lack of purchasing power, not inflation which is a loss of purchasing power. We lost that purchasing power over 2022 and 2023, but the difference in price between November of 2023 and now is relatively small.
As I’ve pointed out elsewhere, that’s not inflation. That’s a lack of purchasing power, not inflation which is a loss of purchasing power. We lost that purchasing power over 2022 and 2023, but the difference in price between November of 2023 and now is relatively small.
Oh neat! Inflation only exists if it happened in the last 12 months. /s
Accumulative inflation is a thing, and it is up 21.8% since 2020.