"Nor are economists overly impressed by Elon Musk’s proposal to tackle the problem: dramatically slashing government spending. Even if Musk could cut spending as much as he suggests (doubtful, reports The Economist, which finds much evidence of chaos but not much movement in actual numbers) experts say the result would crash the economy."

#Trump #Musk #inflation #groceries #prices #eggs #gasoline #economy #consumers #ConsumerPriceIndex
/4

"'BIDEN INFLATION UP!' he posted on Truth Social.

At least one survey already suggests consumers aren’t buying this line: The University of Michigan’s February survey of consumers found they expect inflation to increase, particularly in light of the tariffs Trump has slapped on top trading partners."

~ Heather Souvaine Horn

#Trump #inflation #groceries #prices #eggs #gasoline #economy #consumers #ConsumerPriceIndex
/3

https://newsletter.tnr.com/index.php?action=social&chash=3e15cc11f979ed25912dff5b0669f2cd.1395&s=cdd6377d8462caad2b4695418c877aea

"The consumer price index jumped by 3% in January compared to January 2024, according to the Labor Department, a number higher than most analysts expected."

#Trump #inflation #groceries #prices #eggs #gasoline #economy #consumers #ConsumerPriceIndex
/2

But last wk, the Bureau of #Labor Stats reported that both the #ConsumerPriceIndex & the #ProducerPriceIndex rose 0.3%in Jan, more than most analysts expected. & the usual suspects— #inflation perma-bears, #political enemies of the #Biden admin & economists who wrongly predicted that #disinflation would require mass #unemployment —jumped on the data as if it were a fumbled football.
So, are the good times over?
No. Everything we know suggests that those disappointing numbers were mostly a blip…