Inflation has been stubbornly high lately. When will it go down?
Probably no more rate cuts for a while.
Probably no more rate cuts for a while.
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You obviously don’t understand Bidenomics.Should have never even discussed rate cuts until inflation was under control.
The Fed inflation models failed (both on the way up and on the way down). The Fed was speaking based on the model output. They probably should be more humble moving forward.Should have never even discussed rate cuts until inflation was under control.
That's almost guaranteed to happen. Along with heartfelt apologies and confessions of failure.They probably should be more humble moving forward.
That's almost guaranteed to happen. Along with heartfelt apologies and confessions of failure.
Not long ago, senior citizens got the two biggest annual increases in their monthly Social Security checks that most had ever seen. But for many of them, the adjustments still weren’t enough to cope with the runaway inflation of earlier this decade and the continued high prices for food, housing, utilities and other necessities.https://www.cnn.com/2024/04/28/politics/social-security-inflation-election/index.html
Social Security isn’t keeping up with inflation. That could weaken Biden’s support among some seniors.
A few on this board told us so. They weren't joking, Senior Citizens have been slammed hard by the inflation.Not long ago, senior citizens got the two biggest annual increases in their monthly Social Security checks that most had ever seen. But for many of them, the adjustments still weren’t enough to cope with the runaway inflation of earlier this decade and the continued high prices for food, housing, utilities and other necessities.
That’s forcing more of them to spend their emergency savings, carry debt on credit cards or apply for assistance programs, according to The Senior Citizens League, a nonpartisan public education and advocacy group.
While inflation has afflicted Americans of every age, senior citizens are often in a more difficult predicament because many live off fixed incomes. Many depend heavily on Social Security – some 42% of elderly women and 37% of elderly men rely on the monthly payments for at least half their income, according to the Social Security Administration.
This squeeze could also politically influence some seniors, a key voting group, potentially weakening some of their support for President Joe Biden. Some polls have shown that Americans generally disapprove of Biden’s handling of the economy compared with former President Donald Trump, his presumptive rival in November’s election who enjoyed much tamer inflation during his administration.
Inflation has eaten away at 36% of Social Security benefits’ buying power since 2000, according to an analysis last year from The Senior Citizens League.
It's the economy, stupid.If Joe goes down in November, Inflation will be the #1 reason.
Yep. And for the unwashed masses, inflation is front and center as far as economic concerns go.It's the economy, stupid.
A large portion of the Social Security recipients' problems would be solved by lowering inflation, including inflation on groceries, housing, energy, and other essentials that are not counted on the most commonly-quoted inflation metric.
Neither does Biden - apparently.You obviously don’t understand Bidenomics.
* Predict TEXAS-KENTUCKY *
Sat, Nov 23 • 2:30 PM on ABC