SCRATCHPAD: 2024-06-28 Fr: ALL THE PCE NUMBERS FOR MAY SEE INFLATION AT TARGET RIGHT NOW; & No, the "New York Times" is not a trustable information intermediary...
Economics: ALL THE PCE NUMBERS FOR MAY SEE INFLATION AT TARGET RIGHT NOW: The only reasons for monetary policy not to be neutral would be (a) seriously asymmetric risks on the inflation side, or (b) a belief that fiscal policy’s stimulative effect is strong, and needs to be offset. I do not see how you can argue that either of those things are true:
BEA: Personal Income and Outlays, May 2024: ‘The PCE price index decreased less than 0.1 percent. Excluding food and energy, the PCE price index increased 0.1 percent (table 5). Real DPI increased 0.5 percent in May and real PCE increased 0.3 percent; goods increased 0.6 percent and services increased 0.1 percent (tables 3 and 4)… <bea.gov/sites/default/files/2024-06/pi0…>
Journamalism: The reporters here are Shane Goldmacher andRuth Igielnik. They need to find other and very different jobs:
Normative: ‘Lots of folks have pointed out that this weirdly tries to frame a really significant vote shift in a close election as unimportant. I’ll also add that you can basically ignore the answers from self-IDed Rs and Ds, because those people are clearly lying. Anyone so deep down the rabbit hole that they say they’re “more likely” to support Trump because a jury found him guilty of felonies was 100% already voting for Trump. They’re just expressing disapproval: NYTIMES: ‘In the first poll by The New York Times and Siena College since Donald Trump’s Manhattan trial ended with a guilty verdict, more than two-thirds of voters said the outcome made no difference to their vote <https://tinyurl.com/42bak7xm>… <https://www.threads.net/@normative/post/C8ueK3TxIO_>
