This higher inflation level, measured on a year over year basis, has persisted for 19-months from April 2024. We're just going sideways, not coming down.
Next we'll hear from Trump that this is the new normal and that higher inflation is good akshully.
No, the Fed started cutting in September 2024 in error, obviously, and Trump wants the Fed to cut some more.
Meanwhile Jeff Cox for CNBC is just phoning in the story:
Fed’s main gauge shows inflation at 2.8% in November, edging further away from target
... The personal savings rate rose in November to 3.5%, down 0.2 percentage point from the prior month. ...
How does the personal saving rate rise when it's down 0.2, Jeff?
Yes, the personal saving rate fell from 3.7% the prior month to 3.5% in November.
People are paying for higher prices at the expense of saving.
