Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
A distinction in search of a difference, you are correct.
Except that if Bessent suddenly chooses to leave the administration, it may be an indication he is tired of being played for a fool. If not, he is choosing to be a paid liar, or simply content being a stooge.
Meanwhile, the world observes carefully while our top officials lie daily to protect nothing more than a thin-skinned man's fragile ego. They are throwing away relationships forged in the course of many decades, over a flirtation with fascism.
The folks who have the receipts are saying that tariffs are a tax on U.S. consumers and businesses.
This administration wants to "discipline" free speech. It appears that once again facts and date are to be censored.
•American consumers and businesses are taking most of the hit from President Donald Trump’s tariffs, New York Fed President John Williams said in remarks that counter White House claims.
•A study Williams cited on the issue has generated a fair amount of controversy over the past few weeks, with White House economist Kevin Hassett saying the authors should be “disciplined.”
Addressing the issue for the first time publicly, Williams said not only were the tariffs being felt at home, but they also were keeping the Fed from reaching its 2% inflation goal.
“My current estimate is that, to date, the increase in tariffs has contributed around one half to three quarters of a percentage point to the current inflation rate of about 3 percent,” he said. “The FOMC defines price stability as 2 percent inflation over the longer run. Owing to the effects of tariffs, progress toward that goal has temporarily stalled.”
Sounds about right. Remember that never goes away. The inflation rate may eventually get closer to 2%. But, that higher price point is still the new normal. Another problem being, we have gotten nothing from it. Just higher costs and a loss of manufacturing jobs.
Notably, those who want the authors of the study disciplined, offer no reason to show the data is incorrect.
Comments
A distinction in search of a difference, you are correct.
Except that if Bessent suddenly chooses to leave the administration, it may be an indication he is tired of being played for a fool. If not, he is choosing to be a paid liar, or simply content being a stooge.
Meanwhile, the world observes carefully while our top officials lie daily to protect nothing more than a thin-skinned man's fragile ego. They are throwing away relationships forged in the course of many decades, over a flirtation with fascism.
The folks who have the receipts are saying that tariffs are a tax on U.S. consumers and businesses.
This administration wants to "discipline" free speech. It appears that once again facts and date are to be censored.
•American consumers and businesses are taking most of the hit from President Donald Trump’s tariffs, New York Fed President John Williams said in remarks that counter White House claims.
•A study Williams cited on the issue has generated a fair amount of controversy over the past few weeks, with White House economist Kevin Hassett saying the authors should be “disciplined.”
Addressing the issue for the first time publicly, Williams said not only were the tariffs being felt at home, but they also were keeping the Fed from reaching its 2% inflation goal.
“My current estimate is that, to date, the increase in tariffs has contributed around one half to three quarters of a percentage point to the current inflation rate of about 3 percent,” he said. “The FOMC defines price stability as 2 percent inflation over the longer run. Owing to the effects of tariffs, progress toward that goal has temporarily stalled.”
Sounds about right. Remember that never goes away. The inflation rate may eventually get closer to 2%. But, that higher price point is still the new normal. Another problem being, we have gotten nothing from it. Just higher costs and a loss of manufacturing jobs.
Notably, those who want the authors of the study disciplined, offer no reason to show the data is incorrect.