Well to be fair, price only started creeping up across the board since this Jan. so a post from him around that time would suffice.
The Last of Lehman Brothers
- Thread starter ajacobson
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Well to be fair, price only started creeping up across the board since this Jan. so a post from him around that time would suffice.
no. Feb 2021 my company started seeing our supply chain costs go up a lot, but at least we didn’t know if it would continue and it did. Every month the price of supplies kept going up and they still are.
Ok as a consumer, I didn't notice the price increase until this Jan so for us retail traders, that would be the earliest point for us to know. And then the war with Ukraine just killed it further. And then China decided to implement its brilliant zero-covid policy to stress test the supply chain further. So now pretty much all of the more advanced economies have raised interest rates to stress test the economy.
"Over the 12 months ended July 2021, the Consumer Price Index for All Urban Consumers increased 5.4 percent. Food prices increased 3.4 percent over the last 12 months. Within the food category, food at home prices rose 2.6 percent, including a 5.9-percent increase in prices for meat, poultry, fish, and eggs." (Aug 16, 2021)
5.4% not 2-2.5% what it had been running for yeeeears.
And BTW $CRB index hit another multi-year high again yesterday.
5.4% not 2-2.5% what it had been running for yeeeears.
And BTW $CRB index hit another multi-year high again yesterday.
The history of the Federal Reserve proves that it is has been an engine of inflation since its creation. Furthermore by its actions it has exacerbated booms and busts in the economy rather than smoothing out the ups and downs of business cycles.
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Agree, and I would add that in July and especially August 2021 it was clear that higher prices persisted and that the Fed was proven wrong that prices would revert back quickly, something they insisted on since early 2021.
Well, I did mention about the threat of inflation several times since the pandemic, asking why the fu*k Powell and his cronies aren't doing anything, and that we will eventually get a hatchet man like Volcker to do his dirty job.
https://www.elitetrader.com/et/threads/what-are-the-repercussions-of-unlimited-printing.343015/page-2#post-5065931
https://www.elitetrader.com/et/threads/do-we-need-a-runaway-inflation-before-someone-like-volcker-steps-in.361992/
There are probably others but can't find them.
Volcker had President Regan's back. Who backs Powell? Powell was a once in generation giant.. South America with its decades non-stop inflation problem
has never been able to find her "hatchet man" to cure their inflation problem.
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Quite honestly Powell doesn't give a s***. If they don't like what he is doing, they are more than welcome to get another Chair. The Chair of the Board of Governors of the Fed Reserve serves at the pleasure of the POTUS. If Biden is no longer at pleasure with Powell, he is more than welcome to replace him and Powell will be more than happy to live out the rest of his life in blissful retirement instead of facing pressure from all over the place even from the unlikeliest of people like the Chinese president who all try to tell him what to do.
Your remark is factually incorrect. The chairman serves a four-year term after being nominated by the president and confirmed by the United States Senate.