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PPI index up again but not soaring: Fed warns on unemployment, Biden blithers on Russia and China
This is the last such update before the Nov elections.
Producer P Index
up 0.4% for month
up 8.5% year over year for all items
up 5.6% year over year for all items except energy and food
CPI comes out 13 Oct at about 830 EDT will probably show about the same.
since wage rates will be up about 4% year over year, the numbers are bad, really bad.
Fed says unemployment may have to rise to tame soaring inflation as it issues warning that 'taking too little action' would be worse than another aggressive interest rate rise
[Daily Mail, where America gets its news] - Federal Reserve released its September meeting minutes on Wednesday
- They show Fed policymakers committed to taming inflation through rate hikes
- Officials warned that unemployment may have to rise before inflation declines
Biden admits inflation is a national and global threat in new national security strategy promising to 'compete' with China and 'constrain dangerous' Russia
[Daily Mail, where America gets its news] - The president made it clear that despite Russia's nuclear threats, he is more concerned about China in the long-term
- 'Russia poses an immediate threat to the free and open international system,' he said
- 'The PRC, by contrast, is the only competitor with both the intent to reshape the international order'
- Biden declared the post-Cold War era 'definitively over' and ticked off a laundry list of global issues that could trigger national security threats
- He cited inflation, climate change, disease, energy shortages and terrorism
- The United States will not allow Russia, or any power, to achieve its objectives through using, or threatening to use, nuclear weapons,' Biden wrote
- He did not go into detail on what consequences he would impose for Putin's nuclear threats
Posted by: Lord Garth 2022-10-13 |
