Core pce inflation still 2.8% in March 2024, still 75% worse than under Trump for a second consecutive month

 Biden's 1Q2024 average is 2.86% year over year, making thirteen quarters averaging 4.20% average yoy inflation vs. Trump's 1.6%, 163% worse.

Trump never had a single quarter higher than 1.97% yoy.

American utilities have used the pandemic and the Russia-Ukraine war to price gouge the consumer for natural gas

American utilities have used the pandemic and the Russia-Ukraine war to price gouge the consumer. 

Natural gas prices have nosedived 73% since 3Q2022 but utility prices stopped declining a year ago and are down just 14% from peak.

Utility gas actually increased in 4Q2023 and again in 1Q2024.

Look at all that air under the red line.  First time that's happened in decades.

People should be MAKING A STINK!

 

If you want to know why the price of electricity is up 41%, this is why

 Obama/Biden built that.

At 4.1% in 1Q2024 the so-called supercore inflation rate is still double the 2010-2020 average of 2.07%

 Way to go, Brandon!

March yoy came in at 4.8%. Ouch.

 

More like a stick-up, Janet

 Treasury Secretary Janet Yellen: U.S. Economy Is "Firing On All Cylinders," "Consumers Are Holding Up"

The dollar buys 16.23% less in March 2024 than it did when Joe Biden was inaugurated.

 

 

They promised us a soft landing and by golly they're giving it to us, good and hard

 We're on the glide path of permanent 3.8% year over year core inflation. 

 

 

 

Elon Musk, Glenn Beck, Matt Yglesias, and Donald Trump are FOR lots of LEGAL immigration

 I'M NOT.

Core pce inflation was 2.8% year over year in February 2024, but averaged just 1.6% for four years under Donald Trump

The core pce inflation rate currently is still 75% worse than Trump's 1.6%.

The three year Biden average is 4.31%, which is 169% worse than under Trump.

Real Clear Politics currently shows an average of 64.6% saying the country is on the wrong track.

 

Just a reminder that the Fed said all these purchases it made in 2008 and again in 2020 were just temporary

Now Fed Chair Powell has just said it's time for the pace of the roll-off to slow.

That's the curved line slowly trending down from it's peak near $9 trillion to $7.5 trillion now.

Just as the National Debt will never be paid down, the Fed will never stop intervening in the Treasury market to limit supply and support prices, which suppresses market driven interest rates. 

Powell isn't serious about fighting inflation.

 

 

The price of electricity is at a new record high level in the US of 17.3 cents per kWhr in January and February 2024: Up 27.2% under Joe Biden

Core CPI inflation pops 0.6% monthly in January and again in February 2024

 Doubleplusnotgood.

Year over year in February core cpi inflation is still elevated at 3.8%.

The near term trend has definitely turned higher again.

 

 

 

Core inflation measure for January 2024 is . . . not good

 Year over year we're still at 2.8%, still well above 2.0.

The monthly pop of .4% is high relative to anything in the last year.

The .5 change in the index was . . . pretty dang big.

The drive by media always spins this as "expected" when consensus estimates are confirmed, but that doesn't make them good.

 

We've been getting along with ~ 2 million farm workers for over two decades, we don't suddenly need 7.2 million new illegal aliens to help them

 

Core cpi inflation seasonally adjusted pops 0.4% in Jan 2024: month over month measure trending ever higher since Jun 2023, seven months

 

But you said inflation was coming down!

 

This is your periodic reminder that the net worth of U.S. households is $151 trillion but there's only $2.3 trillion fiat currency in circulation anyway

https://fred.stlouisfed.org/series/TNWBSHNO

https://fred.stlouisfed.org/series/CURRCIR 

Meanwhile all the gold and silver in the world hardly close the gap: 

 

 

Another Fed interest rate pause and dashed hopes for a March rate cut, so the greedy money men throw a little temper tantrum

 Core inflation has a long way to go before it's like it was in the Trump era.

Meanwhile the little people continue to pay, and pay, and pay.

Core pce inflation is out and shows itself running ahead of the 10-year US Treasury yield for four consecutive years 2020-2023, which is unprecedented

Jerome Powell is the biggest phony inflation fighter the country has ever seen.

He was appointed by Trump! So much winning!

Core pce inflation previously exceeded the ten year yield in 1974-75 and in 2012 (barely).

The Fed's primary inflation-fighting tool has been the Federal Funds Rate, but it let inflation run wildly out of control before even lifting a finger to stop it in March 2022 when the Fed finally acted and started raising the rate.

It is a shameful episode which has benefited businesses which hiked prices higher than inflation to goose profits, and the federal government which desperately needed to devalue its mounting debts, all at the expense of the average American.

The lack of outrage over this is a study in the depth of American servitude. Slavery didn't end in 1865 for African Americans. It became the common lot of us all.

 

 

Jay Powell's inflation has been bery bery good for corporate profits and a federal government drunk on debt

 

Jay Powell's wimpy response to inflation let core CPI inflation run ahead of the US 10-year for an unprecedented five consecutive years 2019-2023 on an average annual basis

 Jay Powell is much worse than Burns.

Jay is the money men's best friend ever.

 

Contact your utility commission and complain about natural gas and electricity prices not coming down

 Utilities Get an Inflation Shock

Electricity and gas providers are encountering a pushback on rate increases:

 

Utilities get to pass through fuel prices, which means customers have been bearing the burden of higher natural-gas prices that surged following Russia’s invasion of Ukraine. On average, monthly electricity prices rose 13% in 2022 from a year earlier and 6% in the first 11 months of 2023, according to data from the Labor Department. ... Utility commissioners are either appointed by elected officials or elected themselves, which means they are sensitive to the financial pressures that ratepayers face. ... utilities were quick to ask for an increase on the allowed return on equity when market measures of capital cost rose yet slow to adjust rates when those measures declined.     

 

Has the natural gas portion of your utility bill dropped 60% like the price of natural gas in 2023 from 2022? Mine sure as hell has not.

Here are the average prices per year for Henry Hub natural gas:

2015: 2.62

2016: 2.52

2017: 2.99

2018: 3.15

2019: 2.56

2020: 2.03

2021: 3.89 +91.6%

2022: 6.45 +65.8%

2023: 2.53 -60.7%

That 92% jump in 2021 had nothing to do with Ukraine.

We're being gouged for green energy tomfoolery.

 

COMPLAIN, not to the utility, but to the utility commission. It's the only way.

 

In Michigan, go to:

 

https://www.michigan.gov/mpsc