{"id":67894,"date":"2024-05-05T12:37:30","date_gmt":"2024-05-05T17:37:30","guid":{"rendered":"https:\/\/olduvai.ca\/?p=67894"},"modified":"2024-05-05T12:37:30","modified_gmt":"2024-05-05T17:37:30","slug":"inflation-is-transitory-again","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=67894","title":{"rendered":"Inflation is Transitory Again"},"content":{"rendered":"
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Inflation is Transitory Again<\/a><\/h3>\n

Because it has to be in order to fund Bidenomics.<\/strong>\"\"<\/p>\n<\/div>\n

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As Powell clasps his hands in desperate hope without any evidence to back his hope, the US Treasurer today, like the Treasurer in yesteryear, is giving a solid thumbs-up to his plan, which is already accomplishing everything the Treasury desperately needed.<\/p>\n

After yesterday\u2019s low \u201cjobless claims\u201d<\/em>\u00a0report that held unemployment steady and that\u00a0looked rigged<\/a>\u00a0to hit a targeted goal (again<\/a>), today delivered a \u201cnew jobs\u201d<\/em>\u00a0report that came in (at 175,000 new jobs), well below expectations of 240,000. By that report, the unemployment rate ticked higher from 3.8% to 3.9%.<\/p>\n

As I commented yesterday, we\u00a0may<\/em>\u00a0be nearing the point where all the layoffs this year and last year are bringing jobs down enough to where they will finally start to come in line with available workers. Once that threshold is met, unemployment can rise when and if layoffs are higher than normal. We\u2019ll have to see if this minute rise becomes a trend, though, since the numbers pulled a head fake to his level in February, too, then dipped back down in March to the familiar 3.8 level they had hovered along in August, September and October of last year.<\/p>\n

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Federal Reserve Bank of St. Louis<\/a><\/figcaption><\/figure>\n<\/div>\n

As usual, the slightest hint of a softening labor market caused stock and bond investors to back markets down from the recent financial tightening investors had brought back to the marketplace. Brains smoked in the fumes of hopium and fueled with pure testosterone bid stocks and bonds and rate cuts hopes all back up again today in response to this slight hint that the Fed\u2019s jobless gauge may finally allow it to cut rates. Same pipe dream from the same glass-pipe smokers. Powell\u2019s limp comments about fighting inflation this week had already given lift back to falling markets.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Inflation is Transitory Again Because it has to be in order to fund Bidenomics. As Powell clasps his hands in desperate hope without any evidence to back his hope, the US Treasurer today, like the Treasurer in yesteryear, is giving a solid thumbs-up to his plan, which is already accomplishing everything the Treasury desperately needed. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[34384,122,34481,303,431,534,13351,34306,3650],"class_list":["post-67894","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bidenomics","tag-central-bank","tag-daivd-haggith","tag-fed","tag-interest-rates","tag-monetary-policy","tag-price-inflation","tag-the-daily-doom","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67894","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67894"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67894\/revisions"}],"predecessor-version":[{"id":67895,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/67894\/revisions\/67895"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}