5 ms·

Not if Powell refuses to acknowledge inflation is happening, or will be soon. https://www.pbs.org/newshour/economy/chairman-powell-says-federal-reserve-is-in-no

Not if Powell refuses to acknowledge inflation is happening, or will be soon. https://www.pbs.org/newshour/economy/chairman-powell-says-federal-reserve-is-in-no-hurry-to-raise-interest-rates https://www.pbs.org/newshour/economy/chairman-powell-says-fe...

arcticbull 5y ago
CPI is the benchmark against which inflation is measured. It's the definition, so if CPI isn't going up, there's nothing to acknowledge. IMO it will go up, there will be a transient spike that will dissipate.
- listenallyall 5y ago
  You're at least half-right, CPI did go up... https://news.ycombinator.com/item?id=27129927 https://news.ycombinator.com/item?id=27129927
  - arcticbull 5y ago
    Yup but the 2% target is over a long timeframe. Transient spikes are fine. There was a big drop last year.
    - listenallyall 5y ago
      Whether the current spike is "transient" is yet to be seen
whimsicalism 5y ago
Ah yes, the perennial HN "secret inflation" theory
- ajmadesc 5y ago
  Inflation has been capital's Boogeyman for the middle class since the 80s
- listenallyall 5y ago
  It's no secret my friend. Look around, prices for pretty much anything you want to purchase are higher. Gas, houses, lumber, CPUs, food, cars. Unilever: https://www.just-food.com/news/unilever-experiencing-worst-inflation-in-almost-ten-years_id145620.aspx https://www.just-food.com/news/unilever-experiencing-worst-i... https://www.bloomberg.com/news/articles/2021-05-04/inflation-risk-intensifies-with-supply-shortages-multiplying https://www.bloomberg.com/news/articles/2021-05-04/inflation... https://finance.yahoo.com/news/here-are-17-food-companies-that-have-warned-about-rising-inflation-190503209.html https://finance.yahoo.com/news/here-are-17-food-companies-th...
  - whimsicalism 5y ago
    You're not going to convince me about macroscale inflation by linking to price increases by individual firms. https://fred.stlouisfed.org/series/T10YIE https://fred.stlouisfed.org/series/T10YIE
    - listenallyall 5y ago
      Did you notice inflation 5x'd in the past year, according to the link you just posted?
      - whimsicalism 5y ago
        Just look at a larger timescale. All of this is consistent with average inflation targeting of 2%, ie. The fed mandate. Prices now are entirely consistent with average 2% inflation during the course of the last two years, it only increased so much due to prior sharp decreases in inflation.
        listenallyall 5y ago
        Riiiight... supply shocks, labor shortages, free government money, panic buying, shipping constraints, raw input prices, energy instability, all have nothing to do with the highest inflation print in nearly a decade. It's all just "prior sharp decreases." Gotcha.

arcticbull 5y ago

CPI is the benchmark against which inflation is measured. It's the definition, so if CPI isn't going up, there's nothing to acknowledge. IMO it will go up, there will be a transient spike that will dissipate.

listenallyall 5y ago
You're at least half-right, CPI did go up... https://news.ycombinator.com/item?id=27129927 https://news.ycombinator.com/item?id=27129927
- arcticbull 5y ago
  Yup but the 2% target is over a long timeframe. Transient spikes are fine. There was a big drop last year.
  - listenallyall 5y ago
    Whether the current spike is "transient" is yet to be seen

whimsicalism 5y ago

Ah yes, the perennial HN "secret inflation" theory

ajmadesc 5y ago
Inflation has been capital's Boogeyman for the middle class since the 80s
listenallyall 5y ago
It's no secret my friend. Look around, prices for pretty much anything you want to purchase are higher. Gas, houses, lumber, CPUs, food, cars. Unilever: https://www.just-food.com/news/unilever-experiencing-worst-inflation-in-almost-ten-years_id145620.aspx https://www.just-food.com/news/unilever-experiencing-worst-i... https://www.bloomberg.com/news/articles/2021-05-04/inflation-risk-intensifies-with-supply-shortages-multiplying https://www.bloomberg.com/news/articles/2021-05-04/inflation... https://finance.yahoo.com/news/here-are-17-food-companies-that-have-warned-about-rising-inflation-190503209.html https://finance.yahoo.com/news/here-are-17-food-companies-th...
- whimsicalism 5y ago
  You're not going to convince me about macroscale inflation by linking to price increases by individual firms. https://fred.stlouisfed.org/series/T10YIE https://fred.stlouisfed.org/series/T10YIE
  - listenallyall 5y ago
    Did you notice inflation 5x'd in the past year, according to the link you just posted?
    - whimsicalism 5y ago
      Just look at a larger timescale. All of this is consistent with average inflation targeting of 2%, ie. The fed mandate. Prices now are entirely consistent with average 2% inflation during the course of the last two years, it only increased so much due to prior sharp decreases in inflation.
      - listenallyall 5y ago
        Riiiight... supply shocks, labor shortages, free government money, panic buying, shipping constraints, raw input prices, energy instability, all have nothing to do with the highest inflation print in nearly a decade. It's all just "prior sharp decreases." Gotcha.