https://www.theguardian.com/business/2024/sep/11/august-inflationPrice growth continued to soften in the US last month, falling to its lowest level since February 2021 as the Federal Reserve prepares to cut interest rates for the first time since the start of the pandemic.As inflation continues to fade, the consumer price index rose at an annual rate of 2.5% in August – down from 2.9% in July, and below the 2.6% expected by economists.On a month-to-month basis, the index rose 0.2% last month, in line with its rate of growth during July.The so-called “core” CPI reading, which strips out volatile food and energy prices, came in higher than economists expected, rising 0.3% in August. This measure is closely monitored by the policymakers tasked with steering the US economy.With inflation falling, but many Americans still grappling with higher prices, the US economy is at a crossroads. With two months left before tens of millions of US voters head to the polls, the cost of living has been a key issue on the presidential election campaign trail.In spring 2022, having insisted that a sharp rise in inflation was a “transitory” effect of the economic disruption wrought by Covid-19, the Fed engineered an extraordinary U-turn and embarked upon a round of hikes that would ultimately lift interest rates from close to zero to a two-decade high.
Shortly after the Fed set out on this campaign to cool the world’s largest economy, the consumer price index peaked at 9.1% – its highest level in a generation – in June 2022. Inflation has since fallen back significantly, but at times remained stubbornly high, as policymakers sought to bring it down to their medium-term target of about 2%.Fed officials are seeking a so-called “soft landing”, where price growth is normalized and recession avoided. Amid tentative signs of an economic slowdown, including in the US labor market, the central bank appears set to start cutting rates.“The time has come,” Fed chair Jerome Powell said last month, declaring that inflation was now on a “sustainable” path back to normal levels – and signaling it was preparing to cut rates at its meeting next week.
Wow, the Biden Harris administration really beat the Trump virus caused inflation without starting a recession. These democrats really know their stuff
>>1341041+1 Rupee
>>1341041Democracy enables the best ideas from both parties to be implemented.
>>1341112Unless one side rejects democracy and intentionally implements terrible ideas to turn it into a dictatorship>See Republicans.
>>1341112>>1341146samefag bumping his dead thread.
>>1341149>Trying to sage on /news/HAAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
>>1340977That's cool. Prices are still going up.
>>1341166Because of Price Gouginghttps://www.forbes.com/sites/errolschweizer/2024/09/04/why-a-price-gouging-ban-isnt-so-crazy-after-all/
>>1341169You don't actually understand what inflation is, do you.
>>1341172Do you really think gaslighting works here?
>>1341112It allows the most benign ideas to be implemented.
>>1341313Google what a lagging indicator is, anon. If you think that one presidential administration can massively raise and lower global inflation all in one election cycle you have no clue how inflation or basic economics works.
>>1341315You're arguing with the same people who think Tariffs are a tax on importers and not what they are, a VAT.
>>1341315Google what a fuckface is if you think anyone even listens to you. Why do you type this horseshit over and over?While we're on the subject google what caused inflation and you see that Bidet and his crap didn't help stop it one bit.
>>1341317>Doesn't know what a VAT is>Opens whore-mouth and spews trash anywayInteresting.Also, Biden never removed the "VAT" tax to fight inflation. Can you queers just die of AIDS already?
>>1341349You do know what VAT is and how tariffs are those, right?
>>1341376Why is VAT different, queermo?
>>1341317>VAT You could argue they are a sales tax but not VAT. VAT is Valued Added Tax and applies throughout the supply chain. A tariff only applies at one point in the supply chain. And, my dude, Biden kept the Trump tariffs.
>>1341381It's a VAT because it's the consumer is the one who ultimately pays for it and not the producer or shipper. Also we're talking about how Trump wants to do a 20% tax on all imports which is a far cry from how he did tariffs on a few fields as part of the trade war that he lost.>>1341377Given your entire tone screams 'bad faith' why should I waste time on sea lioning with you?
>>1341386>It's a VAT because it's the consumer is the one who ultimately pays for it and not the producer or shipper.Its literally not a VAT. By definition. The consumer pays for ALL taxes on goods and ALL increases in input costs. By your definition of "VAT" everything from labor costs to inflation is "VAT". >Also we're talking about how Trump wants to do a 20% tax on all imports which is a far cry from how he did tariffs on a few fields as part of the trade war that he lost.Based on his prior conduct he's going to engage in targeted tariffs which he uses as a tool to either force the in-shoring of jobs or as leverage to stop other countries engaging in unfair trade practices. This whole globalist free-trade End of History™ schtick has failed abysmally and its time to start reworking international trade practices in a way that favors American workers. Tariffs are one of the tools that will have to be used in this process.
>>1341397First off, fun ESL moment. Second, again the costs of VAT are passed onto the consumer, trying to quibble over that doesn't change the fact that Tariffs are a VAT.>Based on his prior conductWhich means nothing since thanks to Project 2025, he's going install loyalists and yesmen to every position in the executive branch and congressional Republicans will go along with it, so they will implement his 20% across the board tariffs which will wreck the economy. Also stop pretending he cares about in-shoring jobs when offshoring jobs increased under Trump's watch.https://www.citizen.org/article/during-trump-presidency-200000-jobs-offshored-and-corporations-involved-awarded-425-billion-in-federal-contracts/
>>1341404>First off, fun ESL moment.What is? >Second, again the costs of VAT are passed onto the consumer, trying to quibble over that doesn't change the fact that Tariffs are a VAT.Tariffs are BY DEFINITION not VAT. There is no room for debate, nothing to discuss. Two completely separate things. >Which means nothing since thanks to Project 2025,Oh, you're a schizo and you're trying pivot into some irrelevant bullshit.
>>1341409>What is? You can figure it out.>Tariffs are BY DEFINITION not VAT. They are, stop crying over the facts that Tariffs are a tax on the consumer which inherently makes it a VAT.>Oh, you're a schizo Resorting to ad hominem to ignore all your claims being debunked. Surrender accepted.
>>1341451>You can figure it out.So nothing. The script says "accuse everyone of being shills" so that's what you're doing. >They areI know you think they are. But as we have established, you don't know what you're talking about. >Resorting to ad hominem to ignore all your claims being debunked.Pointing out that your "argument" is you talking about tangential consipracy theories is not an ad hom. Its a description of what you have done. I get it, you got your talking points and you're going to stick to them. What's always funny is that the second you dudes get the slightest pushback it all falls apart - you got nothing, no counter argument, nothing at all.
>>1341463you seem upset that you've exposed yourself, faggot shill.
>>1341463>So nothing. Why should I tell you your ESL tell? >I know you think they are. But as we have established, you don't know what you're talking about. Now you're resorting to gaslighting in desperation because Tariffs are a VAT.>Pointing out that your "argument" is you talking about tangential conspiracy theories Except Project 2025 exists, unlike actual conspiracy theories like migrates eating dogs or Trump winning the 2020 election.You're not fooling anyone on /news/ with your lies, also nice projection at the end.
>>1341474>Tariffs are a VAT.By definition they are not.
>>1341482By definition they are because a tariff is a tax on the consumer.
>>1341483>i think its the same so it is the same!It is BY DEFINITION not the same. Stop being such a fucking sperg about it.
>>1341483you know he's playing semantics to distract from the fact that tariffs are a burden on the non elites
>>1341487>A dog is not a cat >iTs JuSt SeManTicSWe're going to fuck your economy up Chang.
>>1341489and you know we know you're not american, right
>>1341492>no u Every single time.
>>1341497yet you still pretend to be a white republican on your subcontinent. lol
>>1341502>no u no u no u! I see I hit a nerve.
>>1341503no you're just being a silly shill who hates himself
>>1341484>Stop being such a fucking sperg about it.Follow your own advice, a Tariff is a VAT.
>>1341528Tariffs are inflationary
>>1341530So Trump will make inflation explode under your own logic.
>>1341532No one is going to engage with you seriously. You're obviously acting in bad faith and will continue to do so no matter what response you get. I mean, you've already said shit so dumb that a normal anon would have stopped posting out of shame.>a tariff (import duty) is a VAT (value added tax) kek.
>>1341532>So Trump will make inflation explode under your own logic.No, retard, an increase in costs does not devalue the dollar.
>>1341535you still haven't denied that tariffs are harmful to americans if there's no domestic economy to protect in the first place
>>1341535>>1341539You're the one who's claiming Tariffs are inflationary.I'm correctly pointing out Tariffs are a VAT and Trump is going to slam working Americans with a massive tax hike.Which you're in favor of.
>>1341542>its harmful to Americans to encourage corporations to onshore their manufacturingDecent union jobs for American workers are harmful?
>>1341545>You're the one who's claiming Tariffs are inflationary.No. I am not. >Im correctly pointing out Tariffs are a VAT Its become increasingly clear that you have no idea what a "value added tax" is. >is going to slam working Americans with a massive tax hike.Like the huge tax hike we got when he first introduced them and when Biden kept them?I get it, you blindly repeat whatever the Harris campaign says. But come on, behaving like a drooling retard hurts you more than anything.
>>1341548do you really think autarky works. i know russia does but a country with control over the entire globe's shipping channels doesn't
>>1341554>do you really think autarky worksTariffs =/= autarky and almost every single 1st world country has either direct or indirect tariffs. >There is a reason you cant get a US-made Ford in Germany.
>>1341554>a country with control over the entire globe's shipping channels doesn'tJoe Biden kept almost all of Trumps tariffs. Holy shit, touch grass. Return to reality.
>>1341556because they have a miniscule economy compared to the us
>>1341558because the damage from the trade war was already done and there was no going back
>>1341559>only retards like Russia have tarriffs!>Actually, almost every single 1st world country has them>well.... b... but [nonsequitor] rekd
>>1341563>We literally have the Trump tariffs still in place. Biden INCREASED the Trump tariffs on steel Its so fucking over its hilarious.
>>1341565>>1341567excited to work in the coal mines?
>>1341572>oh shit... I.... i dont have an argument>DA KAWL MIHNS! Its beyond over.
>>1341575no i'm just not arguing with you, there's really no point if i'm trying to have an academic discussion. have fun being childish
>>1341576>no i'm just not arguing with youYes. Because you dont have an argument.
>>1341577no, it's been posted. feel free to check it out
It's Trumps stated goal to cause massive inflation. I woudn't believe it if his running partner bewilderingly stated he would support massive devaluation of the US dollar. Tariffs are one method of doing so.
>>1341550>No. I am not. Yes you were.>you have no idea what a "value added tax" is. Interesting projection, it's a tax added after the fact, which is exactly what Trump's tax hike tariffs are.>Like the huge tax hike we goOooooh, now you reveal you're a shill by trying to pretend Trump's first wave of tariffs is anything close to his 20% across the board ones.You're going to lose this election and your masters are going to be forced to pay their rightful share in taxes.
