The inflation numbers came out hotter than expected once again prompting many to think that the Federal Reserve will hike rates in December by 50 basis points. Is this episode, Max details what’s wrong with traditional thinking among economists and policymakers with respect to inflation and the neoclassical approach to managing it. This is the most complete breakdown of inflation we’ve done on UNFTR thus far because there is so much missing from the mainstream analyses. The Trump administration has painted itself into a corner with its destructive economic policies and Democrats are going to have their hands full putting things back together.

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Resources

PBS News Hour: U.S. inflation report highlights strain of rising food, energy and housing costs

Federal Reserve: The Economic Outlook and Some Thoughts on Labor Market Dynamism

U.S. Bureau of Labor Statistics: Consumer Price Index Summary

U.S. Bureau of Labor Statistics: Consumer Price Index for All Urban Consumers (CPI-U)

U.S. Bureau of Labor Statistics: Consumer Price Index Summary

Federal Reserve Bank of St. Louis: Consumer Price Index for All Urban Consumers: All Items in U.S. City Average

Federal Reserve Bank of St. Louis: Employed full time: Median usual weekly nominal earnings (second quartile)

Federal Reserve Bank of St. Louis: Average Hourly Earnings of All Employees, Total Private

Federal Reserve Bank of St. Louis: Consumer Price Index for All Urban Consumers: Rent of Primary Residence in U.S. City Average

Federal Reserve Bank of St. Louis: Average Amount Financed for New Car Loans at Finance Companies

Federal Reserve Bank of St. Louis: S&P Cotality Case-Shiller U.S. National Home Price Index

Bureau of Economic Analysis: Personal Saving Rate

Federal Reserve Bank of St. Louis: Revolving Consumer Credit Owned and Securitized

Federal Reserve Bank of St. Louis: Personal Saving Rate

Federal Reserve Bank of St. Louis: Labor Force Participation Rate

CNBC: Trump tells CNBC he can work with Dems on ‘many more things than people understand’

UNFTR Resources

Video: Is Trump’s Economy Breaking Faster Than the Fed Can Fix It?

Essay: Another Hot Inflation Print Lights Up The Consumer.

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