SteakNEggs
Well-Known Member
"Booming economy"
Food prices increased 10.1% from last January — the ninth-consecutive double-digit annual increase for that category, though still down from its August peak.
Shelter costs, which includes rent and the cost of homeownership, increased 7.9%. That's the fastest annualized rate since 1982. Rent costs increased 8%, another new record.
The U.S. economy is revealing itself to be difficult to slow down, Bank of America economists said in a note last week, citing an extraordinary 517,000 jobs added in January. That means any forthcoming recession is likely to be mild and wouldn't happen until the second half of 2023, they suggested.
Still, there's evidence that the economy is indeed slowing down. Monday, the New York Federal Reserve reported that the median expected growth in household income dropped from 4.6% to 3.3%. That is the largest one-month drop in the nearly 10-year history of the survey.
In other words, U.S. households are not only expecting a slowdown in income; they also expect that slowdown to be quite large.
The rise in food prices has been especially salient for households attempting to make ends meet. Costs for food at home increased 11.3% between January 2022 and January 2023, while costs for food away from home rose 8.2% over the same period.
“The broad-based improvement needed to be seen in order to feel good about where inflation is headed is still lacking,” McBride continued. “The leading contributors continue to be categories that are staples of the household budget: food, shelter, electricity, natural gas, apparel, vehicle insurance, and household furnishing and operations.”
jazzfanz.com
Food prices increased 10.1% from last January — the ninth-consecutive double-digit annual increase for that category, though still down from its August peak.
Shelter costs, which includes rent and the cost of homeownership, increased 7.9%. That's the fastest annualized rate since 1982. Rent costs increased 8%, another new record.
The U.S. economy is revealing itself to be difficult to slow down, Bank of America economists said in a note last week, citing an extraordinary 517,000 jobs added in January. That means any forthcoming recession is likely to be mild and wouldn't happen until the second half of 2023, they suggested.
Still, there's evidence that the economy is indeed slowing down. Monday, the New York Federal Reserve reported that the median expected growth in household income dropped from 4.6% to 3.3%. That is the largest one-month drop in the nearly 10-year history of the survey.
In other words, U.S. households are not only expecting a slowdown in income; they also expect that slowdown to be quite large.
The rise in food prices has been especially salient for households attempting to make ends meet. Costs for food at home increased 11.3% between January 2022 and January 2023, while costs for food away from home rose 8.2% over the same period.
“The broad-based improvement needed to be seen in order to feel good about where inflation is headed is still lacking,” McBride continued. “The leading contributors continue to be categories that are staples of the household budget: food, shelter, electricity, natural gas, apparel, vehicle insurance, and household furnishing and operations.”
The Biden Administration and All Things Politics
I answered your question directly, and you seemed to understand the answer two seconds before you didn't understand. Not all dissenters are equal. As you pointed out, you need 100% of Democrats on board. If one or two Democrats jump ship then you're sunk. If one or two or *ALL* of the...
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