Following the release of the August Consumer Price Index (CPI) the headlines were full of muscular scare-words.
- “Resurgent US consumer prices…more angst… fresh signs of stubbornly high inflation” – The Financial Times
- “Inflation accelerated in August…a surge in consumer prices” – The Wall Street Journal
- “Price pressures remain stubborn…marking another month of accelerating inflation” – The New York Times
- “Hot inflation data… inflation hasn’t gone away…the fight isn’t over….inflation is a more persistent threat than it has been in decades.” – Barron’s (various)
- “Inflation is still troublingly high.” – CBS
- “The inflation battle might not be over…inflation is not expected to reach the central banks’ 2% targets until 2025, meaning further pain for households and risks to the outlook.” – CNBC
- “The Fed’s Inflation Battle Is Getting Tougher.” – Barrons again
- “Inflation: Nouriel Roubini Calls Return to 2% ‘Mission Impossible’” – Youtube
Alas, all this excited messaging is just plain wrong.
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