Editor’s note: This is a lightly edited transcript of the accompanying video from professor Peter St. Onge.
Regime journalists across America wet themselves last week as year-on-year ticked below 3% for the first time since 2021. As the New York Times put it, “Easing inflation has Democrats tasting victory.”
That’s quite a lot to taste for a 0.1% annual move in inflation — assuming you believe the numbers–especially considering inflation actually went up on the month.
In fact, a more sober reading is that inflation’s been stuck way above the Federal Reserve’s target as that famous transitory inflation logs its 40th month with no end in sight.
More important, falling inflation in a weakening economy is not what the party the communists — er, the journalists — think it is.
Why? Because inflation always falls in recessions. In fact, recessionary…
