If the economy isn't in recession in November of 2024....what chance does the GOP have?
https://www.yahoo.com/news/fed-winning-war-inflation-mdash-162452217.html
The Fed is winning its war on inflation — and it means America could avoid a painful recession
Ayelet Sheffey,Madison Hoff
Wed, April 12, 2023 at 12:24 PM EDT·4 min read
On Wednesday, a new report from the Bureau of Labor Statistics found inflation fell by a whole percentage point based on the Consumer Price Index (CPI). CPI, one measure of inflation, plunged from a year-over-year change of 6.0% in February to a year-over-year change of 5.0% in March. That 5.0% inflation rate is the lowest since May 2021.
This is great news for the Federal Reserve, as it continues its work to get the country back to its target 2% inflation level. While the US still has a long way to go in reaching that goal, the latest economic data shows that the Fed's continued interest rate hikes — most recently a 25 basis point increase in March — are working.
The PCE price index is another measure of inflation that the Fed closely watches. That has offered promising signs as well. This index saw a cooler month-over-month change in February compared to January, and year-over-year changes also show for the most part this inflation measure has been falling.
The Fed has also been looking for signs of labor market tightening, and it may be seeing those as well. The US added 236,000 jobs in March, which is a smaller gain than the months prior, and that slowdown to a still-strong but not overheated job market is what the central bank has been seeking.
"Even if it's moderating or slowing down, the labor market's still moving at a brisk pace," Nick Bunker, economic research director for North America at Indeed Hiring Lab, told Insider.
https://www.yahoo.com/news/fed-winning-war-inflation-mdash-162452217.html
The Fed is winning its war on inflation — and it means America could avoid a painful recession
Ayelet Sheffey,Madison Hoff
Wed, April 12, 2023 at 12:24 PM EDT·4 min read
- The Consumer Price Index, which measures inflation, plunged to 5.0% year-over-year in March.
- It's a slowdown from the February's 6.0% reading, and it shows the Fed's war on inflation is working.
- While there's still uncertainty from SVB's collapse, Americans can likely avoid a recession in 2023.
On Wednesday, a new report from the Bureau of Labor Statistics found inflation fell by a whole percentage point based on the Consumer Price Index (CPI). CPI, one measure of inflation, plunged from a year-over-year change of 6.0% in February to a year-over-year change of 5.0% in March. That 5.0% inflation rate is the lowest since May 2021.
This is great news for the Federal Reserve, as it continues its work to get the country back to its target 2% inflation level. While the US still has a long way to go in reaching that goal, the latest economic data shows that the Fed's continued interest rate hikes — most recently a 25 basis point increase in March — are working.
The PCE price index is another measure of inflation that the Fed closely watches. That has offered promising signs as well. This index saw a cooler month-over-month change in February compared to January, and year-over-year changes also show for the most part this inflation measure has been falling.
The Fed has also been looking for signs of labor market tightening, and it may be seeing those as well. The US added 236,000 jobs in March, which is a smaller gain than the months prior, and that slowdown to a still-strong but not overheated job market is what the central bank has been seeking.
"Even if it's moderating or slowing down, the labor market's still moving at a brisk pace," Nick Bunker, economic research director for North America at Indeed Hiring Lab, told Insider.
