Wednesday thread: Inflation is down, wages are up
Will President Biden get credit or will we hear more "recession fears" from media? And Judge Aileen Cannon has her first big test as Trump wants to put off documents trial indefinately. Will she fail?
Inflation has plunged from 9.1% just one year ago to 3%, an incredible drop.
And wages are now rising faster than inflation for the first time since March of 2021, at 4.4%. Airfare prices are tumbling, and the rise in groceries has cooled. The timing of President Biden’s embrace of "Bidenomics, which the Wall Street Journal coined pejoratively, couldn’t have been better. Today he called the numbers "Bidenomics in action."
How will the media spin this since it seems that Wall Street’s "flashing recession warning"—the yield curve—appears to be on the blink according to some economists?
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