May I be so bold as to note that the price of turkey is down this year? To be specific, a 16-pound turkey now costs an average $27.35. That’s a 5.6% drop from last Thanksgiving. Making a big deal out of this would not be necessary had all things turkey not become an obsession two years ...
President Biden has two significant challenges heading into his 2024 re-election campaign — his age and the price of cereal. Let me explain his cereal problem first. Author and academic William Galston wrote about it in the Wall Street Journal last month under the headline, ...
by Claudia Sahm It’s nearly impossible to have a conversation about inflation without mentioning food prices. And no wonder, as they are up 24% since the start of the pandemic and account for one-sixth of the increase in consumer prices overall. After last week’s monetary policy ...
“Greedflation” is an economic theory that emerged around 2021 as an explanation for the sky-high inflation we were experiencing. At first, even mainstream economists considered greedflation a left-wing fringe theory, bordering on conspiracy. But now, some mainstream and even conservative ...
Two essential questions are facing the U.S. economy right now: whether the Federal Reserve’s next change in its policy rate will be a cut or an increase, and whether the central bank’s inflation target of 2% needs to change. Give Fed Chairman Jerome Powell credit for being forthright in ...
by Jonathan Bernstein Inflation is receding, unemployment is at or near record lows, US growth continues at a solid pace … and Americans are deeply pessimistic about the economy. More than half say it is getting worse, while an additional 28% say it is not getting better. Just 37% of ...