Inflation eased somewhat in August, but it was far less than expected.
The Consumer Price Index rose 8.3 compared to the same month a year ago. That was down a bit from the 8.5 rate in July.
But month-over-month inflation still rose by 0.1, according to the Bureau of Labor Statistics, after being flat in July. That has increased worries that the Federal Reserve has yet to get the increase in prices under control, and made continue its plan to raise rates to try to slow down the economy.
While there was a 10.6 decline in the gasoline index, there were sharper increases in the price of food, housing and medical care.
Economist Paul Krugman, op ed columnist for The New York Times, wrote on Twitter, “So this core reading may be telling us about the past, not the future. Given this reading, the Fed will have no choice about continuing to hike, but...
The Consumer Price Index rose 8.3 compared to the same month a year ago. That was down a bit from the 8.5 rate in July.
But month-over-month inflation still rose by 0.1, according to the Bureau of Labor Statistics, after being flat in July. That has increased worries that the Federal Reserve has yet to get the increase in prices under control, and made continue its plan to raise rates to try to slow down the economy.
While there was a 10.6 decline in the gasoline index, there were sharper increases in the price of food, housing and medical care.
Economist Paul Krugman, op ed columnist for The New York Times, wrote on Twitter, “So this core reading may be telling us about the past, not the future. Given this reading, the Fed will have no choice about continuing to hike, but...
- 9/13/2022
- by Ted Johnson
- Deadline Film + TV
The success of President Joe Biden’s climate bill, which he’s slated to sign Tuesday, will not be judged by polls, or by the price of gas at the pump, or by the ferocity of the next hurricane that hits the Gulf Coast.
It will be measured in the clear air high above the Pacific Ocean at the Mauna Loa Observatory in Hawaii. In 1958, when scientist Charles Keeling began measuring CO2 in the atmosphere at Mauna Loa, the level was 316 parts per million (250 years ago, before the industrial era,...
It will be measured in the clear air high above the Pacific Ocean at the Mauna Loa Observatory in Hawaii. In 1958, when scientist Charles Keeling began measuring CO2 in the atmosphere at Mauna Loa, the level was 316 parts per million (250 years ago, before the industrial era,...
- 8/16/2022
- by Jeff Goodell
- Rollingstone.com
Update, 7:49 Am Pt: President Joe Biden said that “there’s no question the Delta variant is why today’s jobs report isn’t stronger.”
“Because of the groundwork we laid with the American Rescue Plan and our vaccination strategy, we are seeing an economy and a job market that can weather the ups and downs of the Delta variant, and anything else that comes our way.”
Biden called for passage of his infrastructure plan and a massive reconciliation bill, the latter of which would boost spending on child care, Medicare and other social programs.
He also decried corporate interests lobbying against the plan, as his administration has called for raising the corporate tax rate, as well as those on upper incomes.
“Our country needs these investments,” he said.
Previously: The pace of job growth slowed considerably in August, in what was seen as a sign of the impact of...
“Because of the groundwork we laid with the American Rescue Plan and our vaccination strategy, we are seeing an economy and a job market that can weather the ups and downs of the Delta variant, and anything else that comes our way.”
Biden called for passage of his infrastructure plan and a massive reconciliation bill, the latter of which would boost spending on child care, Medicare and other social programs.
He also decried corporate interests lobbying against the plan, as his administration has called for raising the corporate tax rate, as well as those on upper incomes.
“Our country needs these investments,” he said.
Previously: The pace of job growth slowed considerably in August, in what was seen as a sign of the impact of...
- 9/3/2021
- by Ted Johnson
- Deadline Film + TV
Adding in Hollywood royalties may boost Us economic growth by as much as 3%. Such creative accounting cannot end well
Hollywood creates fairytales on movie screens. Now it's going to help create fairytales about America's economic growth.
For the first time, the Us is changing the way it measures its economic growth, the measure we call our gross domestic product. Starting in July, the keepers of Us economic data at the Bureau of Economic Analysis will stand over the usual cauldron of Gdp – a stew that includes how much Americans consume, government spending, investment, exports and imports. They'll begin to add new ingredients that, in a puff of smoke, will create a more favorable, higher gross domestic product.
The new ingredients include Hollywood royalties from TV, movies and songs – some Tinseltown magic, really – as well as revenues from scientific research and development. Like a feelgood movie, this will make us feel positive,...
Hollywood creates fairytales on movie screens. Now it's going to help create fairytales about America's economic growth.
For the first time, the Us is changing the way it measures its economic growth, the measure we call our gross domestic product. Starting in July, the keepers of Us economic data at the Bureau of Economic Analysis will stand over the usual cauldron of Gdp – a stew that includes how much Americans consume, government spending, investment, exports and imports. They'll begin to add new ingredients that, in a puff of smoke, will create a more favorable, higher gross domestic product.
The new ingredients include Hollywood royalties from TV, movies and songs – some Tinseltown magic, really – as well as revenues from scientific research and development. Like a feelgood movie, this will make us feel positive,...
- 4/23/2013
- by Heidi Moore
- The Guardian - Film News
Niall Ferguson And Paul Krugman Trade Ad Hominem Attacks In Debate Over Ethics Of Ad Hominem Attacks
Author and columnist Niall Ferguson appeared on Bloomberg recently where he attacked New York Times economist Paul Krugman for resorting to ad hominem attack when he debates people who disagree with him. Ferguson himself resorted to an ad hominem when he said that Krugman’s debate style may be the result of “childhood trauma.” Krugman responded to Ferguson’s ad hominem, perhaps predictably, with a scathing attack on Ferguson’s ability to perform in his position as an opinion leader.
- 3/6/2013
- by Noah Rothman
- Mediaite - TV
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