twice nao
Pent-up demand, shortages fuel U.S. inflation
U.S. consumer prices surged in April, with a measure of underlying inflation blowing past the Federal Reserve’s 2% target and posting its largest annual gain since 1992, because of pent-up demand and supply constraints as the economy reopens.
The strong inflation readings reported by the Commerce Department on Friday had been widely anticipated as the pandemic’s grip eases, thanks to vaccinations, and will have no impact on monetary policy. Fed Chair Jerome Powell has repeatedly stated that higher inflation will be transitory.
The U.S. central bank slashed its benchmark overnight interest rate to near zero last year and is pumping money into the economy through monthly bond purchases. It has signaled it could tolerate higher inflation for some time to offset years in which inflation was lodged below its target, a flexible average.
The supply constraints largely reflect a shift in demand towards goods and away from services during the pandemic. A reversal is underway, with Americans flying to vacation destinations and staying at hotels among other activities. Year-on-year inflation is also accelerating as last spring’s weak readings drop from the calculation.
Consumer prices as measured by the personal consumption expenditures (PCE) price index, excluding the volatile food and energy components, increased 0.7% last month amid strong gains in both goods and services. That was the biggest rise in the so-called core PCE price index since October 2001 and followed a 0.4% gain in March. In the 12 months through April, the core PCE price index vaulted 3.1%, the most since July 1992, after rising 1.9% in March. Economists polled by Reuters had forecast the core PCE price index rising 0.6% in April and surging 2.9% year-on-year. The core PCE price index is the Fed’s preferred inflation gauge.
Stocks on Wall Street were trading higher, though gains were capped by the rising price pressures. The dollar rose against a basket of currencies. U.S. Treasury prices were higher.
https://www.reuters.com/article/usa-economy/wrapup-2-pent-up-demand-shortages-fuel-u-s-inflation-idUSL2N2NF13V
it's just the same faggits saying the same thing
The fake fight narrative
thought they would let that one go by nao but they still think it werks
>>57152 pb
Not AF1 Joe and Flauxtus
82-8000 USAF 747 departed JBA for Langley AFB
Joe Biden, First Lady visiting Joint Base Langley-Eustis
https://www.13newsnow.com/article/news/local/mycity/hampton/president-joe-biden-first-lady-to-visit-joint-base-langley-eustis-on-friday/291-d870e292-b221-4769-b583-bc6ae0b996dc