It is true that nearly every president blames the previous one
even very late into his term.
So you might say “It’s kinda dumb to fault Donald Trump for this.”
I’m a little tougher on him.
If he’s gonna do that, he’s gotta connect the dots.
Immigration related? Yes he can blame Biden.
spending related? No, he can’t spend more than Biden.
Are you of the opinion the fed is operating incorrectly out of malice or misguided belief?
The rumor is it’s actually closer to 3% because no data was collected in October because of the shutdown, and instead of assuming October’s rate was the average of the previous 12 months, or sampling 13 months of data. They assumed there was no inflation in October…in other words they averaged 11 months’ of data over 12 months.
I hope this is not true, or that I misheard.
I think they are doing so out of misguided belief.
If I had not made that clear, it’s probably because sometimes, on social media, my rhetoric gets a little strong
Inflation is always a guessing game.
(Which is why, as @7426k keeps reminding me, there are limits to what we can use it for in the long term.)
That has been going on for decades. Trump is trying to do something about it by importing more Beef from Brazil… wasn’t that something you complained about?
and now we find out the data for this report is VERY limited.
Indeed, the cost of housing was one of the categories that was immediately debated following the report’s release. Shelter costs comprise about a third of the index, and the Labor Department said that shelter rose 0.2% between September and November. The overall index rose 3% on an annual basis.
“It appears that BLS made a big judgment error in its shelter calculation (effectively assuming 0 in October), leading to inflation understated,” Harvard economist Jason Furman said in a post on X. “It is, however, very unlikely this error was political. If anything the opposite: they stuck to algorithm rather than using judgment.”
there was no inflation in October. lol
did not make the correct adjustments for November.
Allan
more
lol. another fiasco. not accounting for October and the government shutdown.
what say you @Gaius?
Allan
I think the article (in Fortune) is pretty flawed.
It was literally written by an intern, btw.
Eva Roytburg is a news intern at Fortune, and her Instagram page has an almost daily feed depicting her talking into her bathroom mirror, pretending to be a new anchor.
The quoted economists may very well have said what the article purports, but the article takes that in the wrong direction, approximately 180 degrees wrong.
If what the economists said is correct (and we should assume it is), then inflation is
L-O-W-E-R than the BLS report implies. Little Miss Eva loses sight of that in her article.
I don’t think they will, at all. We may see a stagnant market for a while, but many are realizing parking is getting scarce.
This chart and the dates correlated will go largely unnoticed.
I can still hope and pray.
And sometimes in the short term! Would economic policy be any different if the rate was 2.5? 2.9?
People are making way too much of potential limitations in this month’s report. It’s one month. It’s right about where we expected. It has error ranges for a reason. It was a complicated month. There’s no political bias here. The BLS was coming out of a shutdown and is 25% smaller than they were this time last year. They develop the best estimates they can with the resources and data they have.
Of course people can debate methodology, reliability, priorities. I appreciate Furman but what good does it do to call one month’s single data point into question?
I’d love to get in on some cheaper properties myself, namely lakefront. I was looking hard in 2018, could have doubled my money in 3 years with the gift of foresight. And I thought it was overpriced then. 
I’m a cheapskate.
I agree, but this is a pretty bad methodological error.
As I mentioned.
If it happened in a day (probably not a good thing)
Restoring equilibrium means home prices would have to fall about 28% from where they are today.
Oh, yeah, I get that. I’m just saying, I don’t think even that will happen. I think the current prices of pretty much everything are where they are, and all we can hope for is minimal inflation. I’m talking 1%, possibly less, hopefully not a lot less as that would be a death spiral.
I don’t think the part about assuming zero inflation in October is accurate, at least as presented. They clearly state in the release that the M2M comparison is September. The input for data for index isn’t change in prices, it’s actual prices. I’m having trouble wrapping my brain around where the problem might arise.
Let me repeat what I said in my first sentence here, with emphasis this time:
“I don’t think the part about…”
I am often wrong, of course.
I don’t wish to (nor do I have time to) get into a detailed discussion about relative housing prices at the moment. Need to focus on the things that help me pay for my own housing 
I will just say this:
From my limited knowledge it’s very, very local-market driven. Prices in many places have the potential to fall dramatically, as we saw in 2007. But many markets (generally places that saw slower gains) are more immune to declines. You may live in one of those more immune places.
