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Inflation sucks bruh


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4 minutes ago, Keyser_Soze said:

Anyone buy a loaf of bread recently? Now it has an odd number of slices so you're left with one piece of bread at the end.

 

I wouldn't know because I only use one slice of bread at a time. :shrug:

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THEHILL.COM

Total household debt for Americans has risen to a record $16 trillion, according to a report from The Federal Reserve Bank of New York, as Americans grapple with inflation and rising costs. “Americ…
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Credit card balances went up by $46 billion, one of the largest recorded by the NY Fed since 1999, “at least partly reflecting inflation on consumer goods and services purchased using credit cards,” the researchers wrote.  

 

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It’s reassuring that underneath it all, the US is as fucked as the UK. I’m literally counting down the days until either the UK government announces. Comprehension package of support for everyone from this October (when my gas and electric bill may well triple) or how they’re going to weather the storm of a lot of people dying from the elements or malnutrition. It doesn’t really feel like a UK scenario to face but, here we are…

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  • 5 weeks later...

The Fed isn't letting up at all it appears:

 

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WWW.CNBC.COM

The probability of a three-quarter point hike moved to 82% on Wednesday morning, according to the CME Group.

 

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Traders are now seeing a near certainty that the Federal Reserve enacts its third consecutive 0.75 percentage point interest rate increase when it meets later this month.

 

The probability of a three-quarter point hike moved to 82% on Wednesday morning, according to the CME Group’s FedWatch tracker of fed funds futures bets.

 

That follows a series of positive economic data and statements from Fed officials indicating that tight policy is likely to persist well into the future. In a pivotal speech Aug. 26, Fed Chairman Jerome Powell warned that increases will proceed and higher rates likely will stay in place

 

Even as traders ramped up their bets on Fed tightening, stocks were higher shortly after the market open. A Wall Street Journal report noting the likelihood of a 0.75 percentage point increase coincided with traders pricing in the more aggressive move, and stock futures momentarily slipped.

 

 

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1 hour ago, rc0101 said:

Absolutely wild

 

107070948-1654276892805-gettyimages-1241
WWW.CNBC.COM

Federal Reserve Vice Chair Lael Brainard vowed Wednesday to press the fight against inflation that she said is hurting lower-income Americans the most.

 

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Federal Reserve Vice Chair Lael Brainard vowed Wednesday to press the fight against inflation that she said is hurting lower-income Americans the most.

 

That will mean more interest rate increases and keeping rates higher for longer, she said in remarks prepared for a speech in New York.

 

“We are in this for as long as it takes to get inflation down,” the central bank official said, just two weeks before the Fed’s next policy meeting. “So far, we have expeditiously raised the policy rate to the peak of the previous cycle, and the policy rate will need to rise further.”

 

 

This has effectively turned into a crusade/jihad for the Fed.

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1 hour ago, Commissar SFLUFAN said:

 

107070948-1654276892805-gettyimages-1241
WWW.CNBC.COM

Federal Reserve Vice Chair Lael Brainard vowed Wednesday to press the fight against inflation that she said is hurting lower-income Americans the most.

 

 

This has effectively turned into a crusade/jihad for the Fed.

 

What's gonna really fuck lower income Americans is suppressing new housing starts while simultaneously pushing ever more people out of the buying market and into the rental market. 

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Man, they're REALLY on a kick, ain't they?!?

 

107076508-16553223832022-06-15t192348z_4
WWW.CNBC.COM

Federal Reserve Chair Jerome Powell spoke Thursday with the Cato Institute, a Washington, D.C.-based think tank.

 


 

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Federal Reserve Chair Jerome Powell in an appearance Thursday emphasized the importance of getting inflation down now before the public gets too used to higher prices and comes to expect them as the norm.

 

In his latest comments underlining his commitment to the inflation fight, Powell said expectations play an important role and were a critical reason why inflation was so persistent in the 1970s and ’80s.

 

“History cautions strongly against prematurely loosening policy,” the central bank leader said in a Q&A presented by the Cato Institute, a libertarian think tank based in Washington, D.C. “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”

 

 

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I think they’re coming out strong because the bond market didn’t believe them. It was pricing in rate cuts next year. That’s starting to change. The Fed wants to put the brakes on inflation because they’re worried consumers will start to expect high prices long term which destabilizes the currency. They’re willing to trigger a recession to prevent this because they see it as the lesser evil. 

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22 minutes ago, eViLgReEnMoNkEyS said:

I'm still waiting for Biden's Inflation Reduction Act to, you know, reduce inflation. 

 

You expected it to significantly reduce our share of the global inflation we are experiencing, as we still crawl out of a pandemic, in two weeks?

 

There’s your problem right there man, just complete detachment from the reality of how anything actually works irl.

 

Now, IRA wasn’t really so much about its namesake, that’s pure branding, but expecting things to work that quickly for anything in life is a purely personal problem that you will need to work on. 
 

I feel like the world is probably really scary and confusing for you because you don’t really have the basics of life worked out yet. As if, mentally, you were still an infant in many ways. Honestly, I would consider going back to basics and learning some fundamentals before trying to express any further opinions, as I think you are doing yourself a disservice by presenting some sort of cartoonish buffoon to the world, and I don’t think thats what you are aiming for. 

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It's going to be weird over the next decade to see renewable energy prices and products come down and insulin prices come down and drug prices come down from Medicare and watch monkeys congratulate whoever the next Republican president is due to his inability to understand cause and effect.

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2 minutes ago, SaysWho? said:

It's going to be weird over the next decade to see renewable energy prices and products come down and insulin prices come down and drug prices come down from Medicare and watch monkeys congratulate whoever the next Republican president is due to his inability to understand cause and effect.

 

A lot of the electorate is as brain addled as monkeys. :(

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1 hour ago, eViLgReEnMoNkEyS said:

I'm still waiting for Biden's Inflation Reduction Act to, you know, reduce inflation. 

Ever gonna address the actual sex trafficking ring you pos? 

 

anyway, this news definitely hurt my portfolio today but… buying opportunity bitches. Especially since I just paid off the renovations on the house. This entire check is going directly into my brokerage.

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