Janet Yellen just said...

[GFB]

"Inflation is still below our target rate of 2 %."

[GFB]

..and that the Fed fund interest rate will stay at near-zero for a considerable time to come.

[scarlett~nc]

"Inflation is still below our target rate of 2 %."

where does she shop ?

[John in Plano]

Not where I shop

[GFB]

"Inflation is still below our target rate of 2 %."

where does she shop ?

She hasn't tried to buy a house in Burbank lately..THAT'S for sure!

[planosteve]

Inflation the way it was originally calculated in 1980 is now 10%.
http://www.shadowstats.com/alternate_da ... ion-charts

[GFB]

Inflation the way it was originally calculated in 1980 is now 10%.
http://www.shadowstats.com/alternate_da ... ion-charts

Think there's a chance that..by today's standards..34 years ago the available data was a bit..useless?

[planosteve]

Inflation the way it was originally calculated in 1980 is now 10%.
http://www.shadowstats.com/alternate_da ... ion-charts

Think there's a chance that..by today's standards..34 years ago the available data was a bit..useless?

No, but the data that shows inflation today at 2% is ridiculous.

[GFB]

Inflation the way it was originally calculated in 1980 is now 10%.
http://www.shadowstats.com/alternate_da ... ion-charts

Think there's a chance that..by today's standards..34 years ago the available data was a bit..useless?

[quote
No, but the data that shows inflation today at 2% is ridiculous.

What would be the reason all of the members of the Federal Open Market Committee would agree to perpetrate a fraud, at the risk of all of their collective credibility?

[GFB]

But of course..as always..fraud or no fraud..

You want to know what the Fed is thinking and doing.

Janet Yellen makes this pretty darn easy..

..to call her "forthcoming" would be a heck of an understatement.

Don't fight the Fed..the Fed is your friend.

[planosteve]

What would be the reason all of the members of the Federal Open Market Committee would agree to perpetrate a fraud, at the risk of all of their collective credibility?

The CPI has been redefined twice to reduce the amount of money the govt. has to pay for Social Security, Federal Pensions, and the many other pensions that use it.
The current formula is rediculous as it doesn't even consider food and energy which are the major expenses that retired people have. The current formula is a convoluted mess of formulas that nobody can understand.
The FED has no credibility among people that know anything.

[GFB]

What would be the reason all of the members of the Federal Open Market Committee would agree to perpetrate a fraud, at the risk of all of their collective credibility?

The CPI has been redefined twice to reduce the amount of money the govt. has to pay for Social Security, Federal Pensions, and the many other pensions that use it.
The current formula is rediculous as it doesn't even consider food and energy which are the major expenses that retired people have. The current formula is a convoluted mess of formulas that nobody can understand.
The FED has no credibility among people that know anything.

Well then..if you're one of those people that "know a lot"..you know that..(as I have said time and again)..the Fed does not go by the CPI..they watch most closely..the PCE.

..and if you watched Janet Yellen's press conference today..you heard that mentioned several times.

[planosteve]

Janet Yellen is a left wing Keyesnian Democrat idiot. Why do you believe in her?

[GFB]

..but your wacky sites keep telling you how the CPI measurements have changed..so you keep posting about how
this means the FOMC is not credible.

Credible or not..Don't fight the Fed.

[GFB]

Janet Yellen is a left wing Keyesnian Democrat idiot. Why do you believe in her?

Two things about that..don't make the mistake of thinking that what you perceive as the politics of the Fed is how you should be prepared to react to them...they are 12 people that collectively act as A-politically as they possibly can.


Also, like them or not..they make the rules.

[planosteve]

don't make the mistake of thinking that what you perceive as the politics of the Fed is how you should be prepared to react to them

That doesn't even make sense. I think you have gone off the deep end.

[Mark]

The federal government just makes up numbers for unemployment and inflation, and then report them as fact. The numbers aren't worth the paper they are written on.

[planosteve]

The federal government just makes up numbers for unemployment and inflation, and then report them as fact. The numbers aren't worth the paper they are written on.

I don't think they just make them up. But, they do define them so as to get the results they want which is to make the unemployment and inflation appear much lower than they actually are.

[GFB]

The federal government just makes up numbers for unemployment and inflation, and then report them as fact. The numbers aren't worth the paper they are written on.

I don't think they just make them up. But, they do define them so as to get the results they want which is to make the unemployment and inflation appear much lower than they actually are.

To both of you.. you can believe that if you wish.. Doesn't change that what the Fed says and does matters..to all of us.

[GFB]

The federal government just makes up numbers for unemployment and inflation, and then report them as fact. The numbers aren't worth the paper they are written on.

You weren't watching the stock market today, were you.