Bessent: Inflation jump will be 'short-term blip'...
Core inflation has been rattling around 3% or higher for nearly five consecutive years as our betters fail to get inflation down to their 2% goal.
I say their goal because 0% is the goal in the law.
Goals are real nice, aren't they?
They, too, are meaningless. They are tricks to persuade you that our elected officials are serious people who agree with you while they have no intention of doing what they say they will do.
"Well I'm really sorry, Mr. Smith. We tried really hard to get inflation down but we had all these unexpected events ruin our best efforts."
In 1Q2026 core inflation rose, to 3.11%, and under current circumstances no one thinks 2Q is going to be lower, which will make it five full years of this and headed the wrong way again.
One good blip deserves another, I guess.
The Treasury Secretary is not serious about inflation, and just about everyone points to Scott Bessent as the serious person in this administration.
We are so screwed.
