[ June 18, 2026 ]
Biden blamed potato chips and ice cream. Yes, that’s where we are.
“SHRINKFLATION” Accurately Describes Biden’s Diminishing Brain Capacity
US inflation rose hotter-than-expected 3.1% in January, dimming hopes for Fed rate cuts
By Shannon Thaler, The NY Post, Feb. 13, 2024:
ADVERTISEMENTUS inflation rose 3.1% in January, a hotter-than-expected increase that further stokes doubts as to whether the Federal Reserve will begin cutting interest rates this spring.
Last month’s Consumer Price Index — which tracks changes in the costs of everyday goods and services — came in higher than the 2.9% figure economists had expected, according to FacfSet.
Core CPI — a number that excludes volatile food and energy prices — increased 0.4% in January, to 3.9%, after rising 0.3% in December. The figure, a closely-watched gauge among policymakers for long-term trends, was also higher than what economists at FactSet expected.
Dow futures were poised to drop early Tuesday as traders began to unwind bets that the Fed will begin easing rates sooner rather than later.
The latest inflation figure marks a cooldown from December’s stiffer-than-expected 3.4% gain, which dampened hopes on Wall Street that the first of three highly-anticipated interest rate cuts this year could come as soon as March.
ADVERTISEMENTThe Bureau of Labor Statistics attributed the CPI’s increase to the shelter index, which rose 0.6% on a monthly basis and contributed to two-thirds of the monthly all-items increase. The food index increased 0.4% in January, more than the 0.2% it advanced in December.
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