Before reacting, read the article
Inflation rose to 3% in January, its highest rate for six months, and above the 2.9% expected by economists.
This is significant for bankers, but not for regular people. You’re not going to notice that inflation is 0.1% higher than expected
0.1% for someone with a $500,000 mortgage would be $500.
0.1% for a large company, like say, Blackrock, that has $15 billion dollars in debt, is 15 million dollars.
Edit: however, Blackrock also *profited to the tune of 4.7 billion dollars, so the 0.1% increase is a 0.3% cut into their profit from last year. They can absolutely afford it.
I’d be interested in seeing where the inflation was higher than expectations. He’s only been in office a few weeks; most of these markets don’t react that quickly.
Edit: Ahh, Lemmy. Where people get down voted for wanting more information.
Not when you start tariffs wars with allies that you signed trade agreement with.
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Its also not like Trump wasn’t affecting the markets until the day he was inaugurated. He was literally illegally meeting with foreign leaders during the campaign.
And manipulating the budget.
What’s illegal about it?
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Well, the meeting…
So the meeting is illegal because it’s a meeting. Gotcha
You asked what’s illegal, not why it’s illegal.
No I didn’t. “What’s illegal about it” is just another way of asking “why is it illegal”
It’s called the Logan Act. There are actually laws about how civilians can interact with foreign officials. Dennis Rodman famously violated those laws when he went to North Korea to act in an official capacity that wasn’t officially sanctioned. Trump is a civilian until inauguration, so his meetings with heads of state to discuss official matters (not just shooting the shit about movies and new restaurants) would have had to be sanctioned to be legal.
an official capacity that wasn’t officially sanctioned.
Can you explain what that means? Because he either was or wasn’t.
Just like it says: Rodman went in an official capacity but wasn’t given the authority. He did it on his own. It wasn’t officially sanctioned so he either lied or was just oblivious.
Sounds like grey area to me, couldn’t he just have met them as ‘friends’ or did he seriously identify himself as US president before he was inaugurated? Or is the law that strict?
Driven primarily by….
The cost of eggs. Yes regular people are going to notice this.
Food at home up 1.9%
You didn’t even check what it’s driven by, but you confidently state it
I’m just basing my opinion on the text of the article. The article you told people to read:
US inflation increased by more than expected last month, as higher egg and energy prices helped to push up the cost of living for Americans.
Grocery prices climbed 0.5% over the month, compared with 0.3% in December, as egg prices surged more than 15% … That marked the biggest monthly increase in nearly a decade, the Labor Department said.
Then you reply with a statistic that doesn’t appear in the article with no reference. Fucking MAGATs.
https://www.bls.gov/news.release/cpi.nr0.htm
I check the official sources
