If you were “surprised” by this then you are in WAY over your head.
Go use your Philosophy degree, because your Economics degree is doing you zero good.
I’m actually surprised it was so low.
Me too. Makes you wonder if the Administration has their thumb on the scale. They often post adjustments for the next few months. I would not be shocked if next month, they update the current month and make it higher. Next month will be higher than the current month due to the May 2020 number was lower than April 2020. Inflation will be 4%+ all year long.
Once companies start raising wages, the inflation will be here to stay and will not be temporary like the fed believes. I heard on the radio that the trucker shortage is causing big increases in their wages that will be passed on to everything you buy. I personally believe that higher than normal inflation is the new normal until the next recession or depression.
Got to keep shoveling that funny money onto the pile, so that the “investors” (massively rich people & huge corporations) don’t see their asset values decline. Oops, I meant so that they don’t cause a market decline (that’s the approved, PR-friendly line).
We’ll keep doing it — by the trillion — until it all comes down.
People like Ron Paul & the Cato Institute have been saying for years we are flirting with disaster. The only reason this hasn’t imploded is that the rest of the world doesn’t have a better place to put their money…
…yet.
When someone, or something, else becomes the world’s reserve currency, our pieceofshit policiticians are going to be too addicted to reckless spending to stop doing it.