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Amishman

(5,934 posts) Tue Jun 15, 2021, 11:57 AM Jun 2021

Consumer Price Index hits record YoY increase, 6.6% [View all]

https://www.cnn.com/2021/06/15/economy/producer-price-inflation-may/index.html

Not good. Joe needs to sit on the Fed and get them to start taking action to put the brakes on this. CPI is a lagging indicator, and spot data (commodity prices, real estate prices, etc) suggest this isn't slowing down.

Betting employers still think they're going to pat the employees on the head and tell them 2.5% is a good raise...

12 replies

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Consumer Price Index hits record YoY increase, 6.6% [View all] Amishman Jun 2021 OP

Economic growth should be priority over inflation right now. roamer65 Jun 2021 #1

normally I would agree, but there is significant risk with the expansion of the money supply Amishman Jun 2021 #2

To be honest, we're due for a recession. WarGamer Jun 2021 #12

Hopefully, serious inflation will not occur. But if it does like 1970s, those on Social Security and Hoyt Jun 2021 #3

You fix this by increasing taxes on the people who have most of the money. hunter Jun 2021 #4

That may be the right thing to do, but that's not how you fix inflation. Calista241 Jun 2021 #7

People who are merely surviving buy only necessities. hunter Jun 2021 #8

That's exactly the fix that is needed. roamer65 Jun 2021 #9

Not so fast! PETRUS Jun 2021 #5

That misses out on one of the other major criticisms of CPI, it doesn't include housing Amishman Jun 2021 #6

Inflation will also start to constrict consumption. roamer65 Jun 2021 #10

Comparing a sudden recovery to a sudden crash, we can't use normal standards. lagomorph777 Jun 2021 #11