Re:Payroll employment rises by 353K in January; unemployment...
by gottorf on Friday February 02, 2024 @09:36AM
(#39228951)
> The recent bout of inflation is less about monetary policy than about the supply side
The fiscal side[0] is probably more to blame than the supply-chain restrictions. Aggregate demand was kept turbocharged since Covid through deficit spending. And given that the CPI is still 19.1% higher as of last reading compared to pre-pandemic times, whether or not the rate of change is falling, people are still rightly feeling squeezed.
The fiscal side[0] is probably more to blame than the supply-chain restrictions. Aggregate demand was kept turbocharged since Covid through deficit spending. And given that the CPI is still 19.1% higher as of last reading compared to pre-pandemic times, whether or not the rate of change is falling, people are still rightly feeling squeezed.
[0]: https://fred.stlouisfed.org/series/FYFSD