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Summary
In the past 12 months, the CPI has risen 5.4%, the fastest annual pace in 30 years (since 1991).
Despite the rising GDP and high inflation, Fed Chairman Jerome Powell, in prepared testimony in front of Congress last week, amazingly said that the Fed “is still a ways off” from tapering (reducing) quantitative easing.
The Labor Department reported Thursday that new claims for unemployment declined to 360,000 in the latest week, down from a revised 380,000 in the previous week. Continuing unemployment claims declined to 3.241 million, down from a revised 3.367 million in the previous week.
Unemployment claims are trending in the right direction, so as soon as most of the 6.8 million jobs lost from the pandemic return, the Fed can switch from its unemployment mandate to start fighting inflation.
...
Summary
In the past 12 months, the CPI has risen 5.4%, the fastest annual pace in 30 years (since 1991).
Despite the rising GDP and high inflation, Fed Chairman Jerome Powell, in prepared testimony in front of Congress last week, amazingly said that the Fed “is still a ways off” from tapering (reducing) quantitative easing.
The Labor Department reported Thursday that new claims for unemployment declined to 360,000 in the latest week, down from a revised 380,000 in the previous week. Continuing unemployment claims declined to 3.241 million, down from a revised 3.367 million in the previous week.
Unemployment claims are trending in the right direction, so as soon as most of the 6.8 million jobs lost from the pandemic return, the Fed can switch from its unemployment mandate to start fighting inflation.
...
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