All Facts Matter

Share this post
As Expected, The CPI Ignores Powell's Rate Hikes
newsletter.allfactsmatter.us
Recession Matters

As Expected, The CPI Ignores Powell's Rate Hikes

Peter Nayland Kust
Oct 13, 2022
2
2
Share this post
As Expected, The CPI Ignores Powell's Rate Hikes
newsletter.allfactsmatter.us

Just as the Producer Price Index did yesterday, this morning, the Consumer Price Index acted as if Fed Chair Jay Powell's rate hikes didn't exist, replicating the PPI by increasing month on month while inching down slightly year on year.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September on a seasonally adjusted basis after rising 0.1 percent in August, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.2 percent before seasonal adjustment.

Another month, another demonstration of the impotency of Powell's interest rate hikes in fighting inflation.

Expect Powell to insist on more rate hikes. Because that's the solution for what hasn't worked yet—more of the same.

  • New First
  • Chronological
© 2023 Peter Nayland Kust
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing