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Same people who say inflation is under control?

chad_strategic 1y ago
The same people who didn't see the financial crisis of 2008.
daveguy 1y ago
They very specifically say inflation is not "under control" which is why they have not lowered interest rates recently. It was almost under control until Trumpty Dumpty started his corrupt monkey wrenching with tariffs.
- g42gregory 1y ago
  As I recall, they were saying the inflation was under control 2019-2024, during which real inflation was around 40% (not annual but aggregate for 4 years).
  - daveguy 1y ago
    Not sure if you don't know the difference between say and said or that inflation is measured as a yearly rate and not aggregate. Maybe a language barrier issue. 2019 and 2020 inflation was under 2% (target) each year. I agree with Elizabeth Warren and most other observers that they were late to raise interest rates. But they did start raising interest rates in early 2022 (but later and slower than they should have -- peaked early 2023). Regardless, have a great day!
    - deleted 1y ago
      [deleted]
  - recursive 1y ago
    2019 to 2024 is five years, not four. Not sure if the 40% is real, but if so, it annualizes to 6.96% across five years. I don't know if that's considered high or not.
    - dgfitz 1y ago
      If we’re being pedantic, it’s actually somewhere between 4 years and 2 days, to 5 years and 364 days, 2024 was a leap year. I sure don’t feel like I added anything to the discussion. Do you?
      - recursive 1y ago
        I was curious about the annualized rate when I read the original comment, so if nothing else, I think that was a constructive addition.
      - deleted 1y ago
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    - zahlman 1y ago
      > I don't know if that's considered high or not. The target has been a 2% long-term average (although there has been recent language indicating a shift towards "just try for 2% going forward"). It peaked at something like 9%, which hadn't been seen in decades. Nothing compared to e.g. Weimar Germany, Brazil circa 1990, or even modern-day Argentina; but undesirable and concerning.
deleted 1y ago
[deleted]

The same people who didn't see the financial crisis of 2008.

They very specifically say inflation is not "under control" which is why they have not lowered interest rates recently. It was almost under control until Trumpty Dumpty started his corrupt monkey wrenching with tariffs.

g42gregory 1y ago
As I recall, they were saying the inflation was under control 2019-2024, during which real inflation was around 40% (not annual but aggregate for 4 years).
- daveguy 1y ago
  Not sure if you don't know the difference between say and said or that inflation is measured as a yearly rate and not aggregate. Maybe a language barrier issue. 2019 and 2020 inflation was under 2% (target) each year. I agree with Elizabeth Warren and most other observers that they were late to raise interest rates. But they did start raising interest rates in early 2022 (but later and slower than they should have -- peaked early 2023). Regardless, have a great day!
  - deleted 1y ago
    [deleted]
- recursive 1y ago
  2019 to 2024 is five years, not four. Not sure if the 40% is real, but if so, it annualizes to 6.96% across five years. I don't know if that's considered high or not.
  - dgfitz 1y ago
    If we’re being pedantic, it’s actually somewhere between 4 years and 2 days, to 5 years and 364 days, 2024 was a leap year. I sure don’t feel like I added anything to the discussion. Do you?
    - recursive 1y ago
      I was curious about the annualized rate when I read the original comment, so if nothing else, I think that was a constructive addition.
    - deleted 1y ago
      [deleted]
  - zahlman 1y ago
    > I don't know if that's considered high or not. The target has been a 2% long-term average (although there has been recent language indicating a shift towards "just try for 2% going forward"). It peaked at something like 9%, which hadn't been seen in decades. Nothing compared to e.g. Weimar Germany, Brazil circa 1990, or even modern-day Argentina; but undesirable and concerning.

deleted 1y ago

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