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All the data so far is showing inflation isn't going away, and is making things tough on the Fed (www.cnbc.com)

submitted 8 months ago by MicroWave to c/economics

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Key Points

Commerce Department indexes that the Fed relies on heavily for inflation signals showed prices continuing to climb at a rate still considerably higher than the 2% annual goal.
The stubborn inflation data raised several ominous specters, namely that the Fed may have to keep rates elevated for longer or even have to hike at some point.
Thus far, the economy has managed to avoid broader damage from the inflation problem, though there are some notable cracks.

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[–] Garbanzo 9 points 8 months ago (1 children)

And yet the prices continue to rise, the corps are bringing in record profits, and the fed's best efforts have only slightly slowed the upward push on prices. Think that's just a coincidence?

[–] [email protected] -3 points 8 months ago (1 children)

I think it’s a lack of competition in the retail space, due to forced closure of businesses over the last few years. Consumer prices are set by the end seller, and they don’t have much competition at all.

[–] Garbanzo 4 points 8 months ago

It's lack of meaningful competition all the way through the system