3 ms·
Indeed, we have seen a ~35% reduction is SPR this year and are not far from 1980s level. I'm also not sure how the US is planning to restore these values given
by algoatecorn 4y ago
Indeed, we have seen a ~35% reduction is SPR this year and are not far from 1980s level. I'm also not sure how the US is planning to restore these values given our refinery capacity and poor relationships with other top suppliers.
Not the mention, CPI is one thing, and how the average American feels is another. If you poll random people on the street, this "slowdown" in inflation is not perceived by individuals' wallets. This means consumer behavior is not necessarily reflected in CPI prints.
- id_240 4y agoActually, inflation expectations as polled by the New York Fed [1] is down in the short, medium, and long (1-year, 3-year, 5-year) term. [1] https://www.newyorkfed.org/newsevents/news/research/2022/20221212 https://www.newyorkfed.org/newsevents/news/research/2022/202...
- algoatecorn 4y agoExpectations are not the same as consumer behavior which is reflected in sales revenue. On average, wages have not kept up with inflation. This means the average person will either cut back, or they will make the sub-optimal decision to not change their spending habits.