Well, the last big spike in prices caused by the Russian invasion of Ukraine rolled off the 12 month inflation rate last month. Stage 3 of Bidenomics should be all about restoring competition in markets, or adding price regulation where competition can’t quickly be re-established. Stage 3 should be about competition and regulation, and about relief from the Fed’s ridiculous, over-reactive interest rate increases, particularly relief for small businesses and student loan borrowers. Disclosure, our family runs a small business that would benefit from lower interest rates for inventory financing. Here are some screenshots of how the media handled yesterday’s CPI report:www.bloomberg.com, accessed July 12, 2023www.wsj.com, accessed July 12, 2023www.washingtonpost.com, accessed July 12, 2023

Source: Washington Post July 13, 2023 17:13 UTC