Yes, Inflation is to low for the Federal Reserve and they want it to go higher. It begs the question, “On what planet is inflation to low?” or “What plant is the Fed on ?”
It must not have anything to do with those who are from Earth !
I have no LARGE DATA to show my point. Just a Grocery Bill, Gasoline Receipts, Utility Bills, Insurance Bills and here is what that data shows.
Food:
While the cost of my favorite loaf of whole grain bread is somewhat the same, it got 20% smaller by weight in the past 2 years and priced .30 more per loaf. That has to be 30-35% overall increase. Red Skin Potatoes are up $1.00 for 5lb in the past 2 years, that’s a 25% increase. 3lb of ground cow (hamburger) is up .85 or 25% in the past 2 years. Frozen veggies are up .35 cents per 1lb bag in the last year alone a 40% increase. Outside of Milk, that is the same price as it was 2 years ago but that does not count as it is a subsidized item, I can’t find a food that is less than 15% higher than it was 2 years ago.
Gasoline/Oil:
At the time of writing this, the cheapest price locally for a gallon of gas… $3.68, up more than 10% from one or two years ago.
Utilities:
3 years ago, my electric rate for delivered electric was a average rate of 8.65 cents a kilowatt hour. It is now over 14.5 cents a kilowatt hour for the same delivered rate. Often it works out to over 15 cents per KWA… Almost double from 3 years ago. Despite the natural gas boom in my area, Nat Gas has not delivered the Jobs promised nor the price reductions forecast.
You know I keep hearing that we are at this point of having a abundance of energy here in “NORTH AMERICA” and they now want permission to export fuels again, but if there were so much energy and with the “FREE MARKETS” we gave with “De-Regulation” were working it would be cheaper in any case. Who is LYING HERE ? …EVERYONE !
Question is “HOW MANY MORE LIES ARE YOU WILLING TO ENTERTAIN ?” My guess is a bunch or it would not have got this far.
Folks have no disposable income so lots of luck getting the economy to grow !
And the fed wants a higher inflation rate. Lots of luck paying that heating bill or feeding yourself if they get it.