US Economy thread

[Frenns Liquor Depot]

The sharp red line up at the end is because the government gave people money + spending crashed during the pandemic (which fed the inflation when the spending restarted). In my opinion it’s kind of silly to feel good about this from a political standpoint.

[Skatastrophy]

I don’t know if squealing louder gets the job done, but if I were an incumbent in an election year and two thirds of the electorate thought I was doing a crappy job on the economy that might get my attention. Telling those people how good they have it doesn’t appear to be doing much good anywhere except Scoop.

You can only tell the electorate that if rates get cut that the economy will overheat and inflation will pop so many times. It's not like they (or like half the people on scoop) understand the economy or inflation anyway. The only way to improve the situation for the majority of the electorate is to raise rates, or to wait. The fed is hoping that waiting will do the trick, along with using their words to temper manipulate market expectations.

Not that any of that has to do with the executive branch.

[Lennys Tap]

You can only tell the electorate that if rates get cut that the economy will overheat and inflation will pop so many times. It's not like they (or like half the people on scoop) understand the economy or inflation anyway. The only way to improve the situation for the majority of the electorate is to raise rates, or to wait. The fed is hoping that waiting will do the trick, along with using their words to temper manipulate market expectations.

Not that any of that has to do with the executive branch.

Except that the president (with the consent of the Senate) names the Fed Chairman.

[Skatastrophy]

Except that the president (with the consent of the Senate) names the Fed Chairman.

And JPow has been doing a bang up job for 6 years now.

Edit: Here's a rundown of how unbelievably good the US economy is doing - https://www.federalreserve.gov/econres/notes/feds-notes/why-is-the-u-s-gdp-recovering-faster-than-other-advanced-economies-20240517.html

People in the US are feeling very minor pain in the recovery since covid compared to their peers in other countries. Again, though, the electorate won't care about that stuff.