Bidens economic policies manage to fix the inflation problem Trump caused before the election. https://www.cnbc.com/2024/09/27/pce-inflation-august-2024.htmlThe PCE price index, a measure the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month inflation rate at 2.2%.Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago.The all-items inflation gauge was below Wall Street estimates and the lowest since early 2021.Inflation moved closer to the Federal Reserve's target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday.The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month inflation rate at 2.2%, down from 2.5% in July and the lowest since February 2021. The Fed targets inflation at 2% annually.Economists surveyed by Dow Jones had been expecting all-items PCE to rise 0.1% on the month and 2.3% from a year ago.Excluding food and energy, core PCE rose 0.1% in August and was up 2.7% from a year ago, the 12-month number 0.1 percentage point higher than July. Fed officials tend to focus more on core as a better measure of long-run trends. The forecasts were for 0.2% and 2.7% on core."All quiet on the inflation front," said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. "Add today's PCE Price Index to the list of economic data landing in a sweet spot. Inflation continues to keep its head down, and while economic growth may be slowing, there's no indication it's falling off a cliff."Though the inflation numbers indicated continued progress, the personal spending and income numbers both came in light.Personal income increased 0.2% on the month while spending rose 0.2%. The respective estimates were for increases of 0.4% and 0.3%.
Stock market futures were positive following the report while Treasury yields were negative.The readings come a little more than a week after the Fed took down its benchmark overnight borrowing rate by half a percentage point to a target range of 4.75%-5%.The progress in August came despite continued pressure from housing-related costs, which increased 0.5% on the month for the largest move since January. Services prices overall rose 0.2% while goods declined by 0.2%.It was the first time the central bank had eased since March 2020 in the early days of the Covid pandemic and was an unusually large action for a Fed that prefers to move rates in quarter-point increments.In recent days, Fed officials have switched their focus from inflation fighting to an emphasis on supporting a labor market that has shown some signs of softening. At their meeting last week, policymakers indicated a likelihood of another half percentage point in cuts this year then a full point in reductions for 2025, though markets expect a more aggressive path.
>>1347246Do you actually think you're going to gaslight the entire country into thinking they can still afford things?
biden fixed the inflation biden caused? so then why is everything still expensive as fuck?
>>1347250Why is it that rightard Americans claim they can't afford groceries and gas, yet can still afford guns and ammunition and also give money to an orange con man?
>>1347255need the guns and ammo to shoot the illegals stealing my groceries and gas! Fuck you Obama
>>1347248There's no data to support the Russian talking point that your average American is struggling to afford food and gas. The real gaslight is you thinking that getting your information about how the economy is doing from boomers yelling on Fox News about imaginary $17 eggs is more reliable than actual statistics.
>>1347248>>1347250Seethe more
>>1347264yes. I am fucking seething about everything being so much more expensive than it was before brandon took office >>1347255>>1347260I haven't bought a gun since 2021 and its not like I need to buy ammo every week like I need to buy food and gas
>>1347268If you hate things being more expensive don't vote for Trump and his giant tax hikes
>I haven't bought a gunDisregard the rest of what >>1347268 says as it's the indian schizo, thus it will never be an American and will never own a gun. It's just a foreign faggot.
>>1347270I'm voting Beef Supreme, multiple times then. And you Cannot stop me.
>>1347276>BeefSomething that was beef but is now just fat is failing. And Trump Steaks.
>>1347278So, when you make these queers posts do your realize how queer you sound? You probably got ass burgers or something. Also, no one likes you or thinks you are funny.No one will ever love you no matter how Democrat you act.
>>1347264Brilliant campaign strategy.
>>1347263You know, the vast majority of the country goes to the grocery store and sees these things for themselves.
>ah, how >>1347281 is triggeredPrime example of autism, folks. Those with that mental handicap don't get Irony. They're also extremely thin-skinned and snowflake-y about things they love being the subject of ridicule or they wouldn't be so thin-skinned and precious about things such as that which is just fat and low quality that fails. And Trump Steaks
>>1347284Considering the amount of threads /pol/ is spamming right now, it's a good one.
>>1347270trump lowered my taxes, biden raised them >>1347274crackhead bot, you learned to link posts
>>1347294>Trump Tower Tax CutLOL
>>1347263i never knew someone could be this blind while being able to type on a keyboard you should get help.
>>1347246so we're ignoring the may 2021-2023 window where it was over 4% because of biden and peaked at 7.2% and how those prices are still there. just because 1 month in august is slightly better?are leftists retarded or do they not realize your prices aren't falling they just aren't rising as much and that 2 year period is price hikes is going to be felt forever.
>>1347296https://www.nytimes.com/2019/04/14/business/economy/income-tax-cut.htmlquite lying any time ccp shill
>Republicans still haven't figured out national vs global trends when it comes to inflation
>>1347300Conservatives don't even know what inflation is, anon. The current front runner for their party things tarrifs is how you fix everything. Economic literacy has and will never be important to the right. Its all feels based.
leftists are such uneducated losers they literally regurgitate reddit talk without understanding what it means its embarrassing. really pathetic the world would be better off if these privilaged piss children were dead
>>1347314>Everyone I disagree with should be deadIt really is so confusing why people keep calling you guys violent. Its a real head scratcher.
>>1347314>privilagedThe indian retard is such an uneducated loser it will never understand how inferior it is. It's really pathetic. The world would be better off if this underprivileged kissless virgin incel retard was dead.
>>1347318leftists are such racists they should all be thrown into a piranha tank>>1347315coming from the actual tearorists thats a laugh
>>1347314>were deadRightists are so violent they prove how inferior they are. So much for 'Democrats are violent' when they prove their own hypocrisy. They are even more violent. If they disagree with others displaying their own violent tendencies, rightards don't have the right to be violent in word, action and thought.
>>1347321you've tried to kill people multiple times, you're a terrorist hate group thats propped up by far-left activists. whose only excuse is a pathetic but we're named human rights that means no matter what we do we can't be buh buh facists god just kill yourself pathetic losers
>>1347299https://www.americanprogress.org/article/the-tax-cuts-and-jobs-act-failed-to-deliver-promised-benefits/
>>1347323>kill>>1347318>was deadRightists are terrorists when they allow thoughts like this to exist within themselves. They're a racist hate group. They're pathetic excuses for humans. Hypocrites.
>>1347246Food and energy ought to be included. Fuckin pacificorp raised rates a few months back, and now they're wanting more.
>>1347334>Food and energy ought to be includedThey are included. Who told you they aren't?
>>1347325>americanprogress.orgDid anyone bother reading this commie Demoshit electioneering?
>>1347342How did you get this far right?
>>1347342>Information that disagrees with my narrative is all fake and commie and I will ignore all of it! I refuse to read statistics that hurt my feelings! Waaaaaa!You make Trump proud
>>1347343>>1347344There will never be universal healthcare in the US, you will never ban assault rifles, we will do to you the same thing we did to the british loyalists 200 years ago, also scamala and china walz are going to lose.
>>1347325Wages did go up and tax cuts were significant for the majority of Americans, it's funny how that piece of trash article tries to hide that by saying "but muh tiny fraction of the poorest of the poor people didn't grow so it means nothing grew"
>>1347347Your kind will be dead from old age soon and then all of those things will happen.
>>1347347>There will never be universal healthcare in the USWho are you talking to?>you will never ban assault riflesDon't care. >we will do to you the same thing we did to the british loyalists 200 years agoYou are literally on the side of the king>also scamala and china walz are going to loseComing from the party whose only platform is funny nicknames I find that claim amusing. >>1347350>Wages did go up and tax cuts were significant for the majority of AmericansThe tax cuts for most Americans were not significant. The vast, vast, vast majority of tax cuts went to the ultra wealthy and it failed to stimulate any of the capitol investment that was promised. All of that extra money went to stock buybacks and dividends for shareholders. The data is all there in black and white. Saying a lie over and over isn't going to make it true when we can all look at the stats and see you're full of shit. The part I'll never get is what compels you to shill so hard for billionaires that laugh while their buddies in congress pad their off-shore bank accounts. What sot of satisfaction do you get out of gladly presenting your asshole for free use by hedge fund managers and trust fund babies? >it's funny how that piece of trash article tries to hide that by saying "but muh tiny fraction of the poorest of the poor people didn't grow so it means nothing grew"That isn't what the article says. You didn't read it.
>>1347352>The tax cuts for most Americans were not significantWhat's the evidence for that? And what do you mean tax cut go to the very rich, the very rich pay the most taxes so any tax cut is always gonna result in rich people getting the biggest benefit because they are already rich, you are just disingenuous like every leftist trash>the data is all thereYou mean that garbage ecological data that has poor causal inference
>>1347352And the problem with Trump was that he didn't reduce public spending, had he reduced tax + public spending, the economy would have been flawless
>>1347357And that's why Democrats created "muh Russia!!!"
>>1347360Could you be any more obvious
>>1347369They haven't updated their talking points since 2016.
>>1347374Who is "they"?
>>1347375You
>>1347375The shills who pretend like Russia doesn't interfere with elections for Trump.
>>1347246>Personal income increased 0.2% on the month while spending rose 0.2%running in place
>>1347379>increasedAs in not decreased.
Leftism is such a bizarre ideology. Has anything you spiteful mutants support ever improved your lives?
>>1347393Biden could cure cancer tomorrow and you poeple would complain that he was putting doctors out of work.
>>1347399Could you stop being a retard for five fucking seconds?
>>1347393Obamacare
>>1347403How on earth did being forced to buy insurance or be fined improve the quality of your life?
>inb4 the dems are blind! middle class americans dont care about wall street! harris has left you all behind!then why are so many republican policies geared towards socialist handouts for wall street but rugged individualism and bootstraps for the working class?
>>1347393collective bargainingobamacarethe EPA/OSHAgay marriagethere's many more but those comeimmediately to mind that have had measurable positive impacts on my own life and the lives of those that i care about
>>1347352>>1347325I was looking at the data from the Yale study that is referenced in that article and at some point I found this, it seems tax cuts did it indeed benefit most people so idk wtf is the leftist problem with it, they really try hard to downplay it perhaps because they are heavy statists>Using data on the distribution of capital ownership, we find that approximately 78% of the gains from tax cuts accrue to the top 10% of earners, and 22% of gains flow to the bottom 90%https://economics.yale.edu/sites/default/files/2023-01/The%20Efficiency-Equity%20Tradeoff%20of%20the%20Corporate%20Income%20Tax.pdf
>>1347417>78% of the gains from tax cuts accrue to the top 10% of earnersThat just proves the tax cuts mainly helped the rich and trickle down economics failed, again.
>>1347420It's almost like the top 10% pay the vast majority of the taxes.
>>1347413lmaoHow the fuck did omabacare improve your life? Are you so sickly that being forced to buy insurance with a $5000 deductible actually saved you money? Wouldn't surprise me actually. Leftists are frighteningly dysgenic.
>>1347435>>1347420that's only because payroll taxes are counted as the business paying, when it comes from your paycheck.
>>1347437You are genuinely retarded.
>>1347436He listed gay marriage, so maybe monkeypox has negatively impacted his life
>>1347386>paycheck goes from 1000 to 1002>cost to live goes from 1000 to 1002>moron on the Internet says line go up is good
>>1347413>ObamacareA gift to insurance companies. It improved the size of their wallets and instated the individual mandate which ensured their profits and drove up the price of healthcare. >Gay marriageFag.>OSHAOn December 29, 1970, President Richard Nixon signed into law the Williams-Steiger Occupational Safety and Health Act.>EPA President Richard Nixon proposed the establishment of EPA on July 9, 1970; it began operation on December 2, 1970, after Nixon signed an executive order.[3] The order establishing the EPA was ratified by committee hearings in the House and Senate.Hmm.
>>1347438He's right though
>>1347446No, he isnt.
>>1347448Yes he is
>>1347442>I get my numbers from the New York Post
>>1347446>>1347450Not him but guess how we can tell you've never had a job.
>>1347452>we
>>1347450Is there anything the left believes at this point that isn't outright fantasy?
>>1347454Rich coming from the side that keeps going 'Here's how Trump won 2020...'
>>1347453Yes "we" as in multiple people ITT are laughing at your apparent lack of common knowledge.
>>1347443so did you miss the part where modern republicans want to abolish the epa and osha or are you just pretending to be retarded?i bet you pull out the 'back in the day democrats wanted slavery!' card too.i dont give a fuck about the ghosts of the past, i care about today and tomorrow.
>>1347455It's not complicated. A few democrat cities in a handful of states padded their numbers, and a complicit media played along. Pretty much the same thing they're going to do this year, but on a smaller scale.
>>1347463You shouldn't have abused their power. Now they have to go. It's always like this with the left and it's why the federal government had an extremely limited set of powers to begin with.
>>1347400He's right you know
>>1347466How did you get this confused?
>>1347465>It's not real because... it just isn't ok?lel
>>1347325>https://www.americanprogress.orgactual chinese propaganda from a chinese think tank
>>1347468I talk to too many leftists.
>>1347488I doubt it or else you wouldn't be repeating the same GOP claptrap like the other redpill syndrome victims on this board.
>>1347490You don't even know what the GOP says or wants because you're a schizophrenic monkey who makes up most of the bullshit running through your worm addled brain.
>>1347457No, just you.
>>1347494project2025.org>>1347496That's where you're wrong though
>>1347499nope
>>1347463literally every state has its own EPA and Osha
>>1347515>national standards are bad>national enforcement of laws is communismWhy haven't you moved to your own private Epstein Island like Ayn Rand commanded you to?
>>1347463>so did you miss the part where modern republicans want to abolish the epa and oshaNo, but this is a lie. So I ignored it.
>>1347526No lie detected.https://appropriations.house.gov/news/blog/house-republicans-pass-measure-reins-epa-promotes-domestic-energyhttps://www.reuters.com/sustainability/climate-energy/25-us-states-challenge-epa-power-plant-emissions-rule-court-2024-05-09/https://thehill.com/homenews/house/4791709-government-funding-epa-interior/https://www.eenews.net/articles/republican-bill-would-constrain-epa-action-on-smog/https://michiganindependent.com/politics/house-republicans-attempt-eliminate-osha-worker-safety/https://www.businessinsider.com/clarence-thomas-takes-aim-at-osha-2024-7https://jordanbarab.com/confinedspace/2023/11/13/house-republicans-propose-to-eliminate-osha/
>>1347483also something literally founded by john podesta, you can't make this shit up
>>1347533you can and did just make it up though
>>1347533the child rapist guy?>>1347534nah, he is right>He is the former president, and now chair and counselor, of the Center for American Progress (CAP), a think tank in Washington, D.C.,>The president and chief executive officer of CAP is Patrick Gaspard, a former diplomat, organizer, and labor leader who served most recently as the president of the Open Society Foundations.[3] Gaspard succeeded Neera Tanden, who was appointed special advisor to President Joe Biden in May 2021. Tanden previously worked for the Obama and Clinton administrations and for Hillary Clinton's campaigns running for President.[4] The first president and CEO was John Podesta, who has served as White House Chief of Staff to US President Bill Clinton and as the chairman of the 2016 presidential campaign of Hillary Clinton.[5] Podesta remained with the organization as chairman of the board until he joined the Obama White House staff in December 2013.
>>1347519the federal government has a limited mandate in the constitution. there is no reason to be spending all this cash on and giving power to federal agencies when every single state has the same fucking agency
>>1347539>the child rapist guy?Trump?
>>1347544nah, john podesta raped kids with obongo in the basement of a pizza place
>>1347539>until he stepped down in 2011. >>13475452011 called, Q wants his meme back.
>>1347545You mean Trump did at mar o lago with Epstein.
>>1347540>there is no reason to be spending all this cash on and giving power to federal agencies when every single state has the same fucking agencyTo the contrary, there is no reason for state agencies to exist when the federal government could move a greater amount of resources to a wider range of locations as needed.
