1) @TheLastRefuge2 is absolutely right about the disconnect between what the Federal Reserve is hoping to accomplish versus reality! They are truly eating their own.
Meanwhile, the latest advance estimate shows you how Main Street is not effected at all!
The third and final https://twitter.com/TheLastRefuge2/status/1078031060292849672 …
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3) reflected a downturn in exports and decelerations in nonresidential fixed investment and in PCE. Imports increased in the third quarter after decreasing in the second. These movements were partly offset by an upturn in private inventory investment. PCS IS ANOTHER LOOK AT
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4) INFLATION USING A DIFFERENT LENSE THAN CPI The price index for gross domestic purchases increased 1.8% in the third quarter, compared with an increase of 2.4% in the second quarter (table 4). The PCE price index increased 1.6%, compared with an increase of 2.0%.
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5) Excluding food and energy prices, the PCE price index increased 1.6%, compared with an increase of 2.1%. THIS BELOW SHOWS YOU HOW MAIN STREET IS ABSOLUTELY KILLING IT! Real gross domestic income (GDI) increased 4.3% in the third quarter, compared with an increase of 0.9%
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6) in the second quarter. The average of real GDP and real GDI, a supplemental measure of U.S. economic activity that equally weights GDP and GDI, increased 3.8% in the third quarter, compared with an increase of 2.5% in the second quarter (table 1).
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