> Anyone who didn't get a 20% raise this year lost money
Inflation numbers that just came out measure year-over-year inflation at 5.4%. And last July we had artificially depressed demand during the pandemic.
Inflation numbers that just came out measure year-over-year inflation at 5.4%. And last July we had artificially depressed demand during the pandemic.
Well, if it were that simple they would simply report another manipulated inflation number and sleep well at night.
Let's assume we accept that there is actually double digit inflation of some sort then what meaning would it have to the economy or monetary policy? Honestly, I'd say it would have zero relevance. Ok, houses went up and now we have to make money scarce and make people unemployed because of that? Building a house creates jobs, selling a house doesn't.