3 ms·
>0.9% in October, 0.8% in November and 0.5% in December, according to the Labor Department. Definitely similarly tone deaf, but in this case he was bragging ab
by calgarymicro 4y ago
>0.9% in October, 0.8% in November and 0.5% in December, according to the Labor Department.
Definitely similarly tone deaf, but in this case he was bragging about the second derivative, not the third - prices continued to increase, but the rate of increase (inflation) was indeed falling.
- hailwren 4y agoErrmm? He says “we are making progress in slowing the rate of price increases”. (making progress in (slowing the (rate of price increases))) 3 ————————— 2 ————— 1 ——————————— The question is what you think “progress” is doing in that sentence. Slowing the rate => 2nd deriv is decreasing but progress, to me, implies that third deriv is what is being pointed at. 2nd deriv would be “we are slowing” to me. I’m not sure what inflation number you’re looking at, but CPI for Oct/Nov/Dec of 2021 was: 6.2%, 6.8%, 7%
- calgarymicro 4y agoRate of increase in prices = inflation = first derivative of prices. Slowing the rate of increase in prices = lowering inflation = second derivative. I wouldn't interprete 'making progress in lowering the rate of increase' as 'lowering the rate of increase of the rate of increase' which is basically how you'd have to read that to get to the third derivative. As the article points out, Biden was talking about MoM inflation, I quoted the numbers there for those months. They're in the article.
- Dylan16807 4y ago"Making progress" here is saying that they are doing it but their job is not done. It's not taking a derivative. "Making progress in slowing" is the same as "slowing", basically. They are celebrating a decrease in the rate of price increases. For Nixon, there was still an increasing of the rate of price increases.