Central bankers play down soaring cost of living

Economics | 203383 hits | Jun 17 6:24 am | Posted by: DrCaleb

Officials insist inflation won't last, and on Wednesday the U.S. Federal Reserve Board's Jerome Powell hinted he'll join the Bank of Canada's Tiff Macklem in cutting back on stimulus. But unless wages catch up, rising prices continue to make most of us po

Comments

by Scape
Thu Jun 17, 2021 8:41 pm
And if you believe that...
by Thanos
Thu Jun 17, 2021 9:08 pm
"But if prices don't go up then I won't collect enough money on kickbacks to be able to afford to keep my trophy sluts or buy all that cocaine every week!" - every banker everywhere.
by CDN_PATRIOT
Thu Jun 17, 2021 10:08 pm
Yet another reason to hate bankers, AND the rich.

-J.
by xerxes
Thu Jun 17, 2021 10:35 pm
This forecast brought to you by the people actually able to afford to live comfortably in Vancouver and Toronto and afford a house there.

Even if inflation rates go down, wages haven't been in sync with reality for a long time and that's the core issue IMO. Everything is costing more from gas, to housing, to insurance, to groceries and yet wages are flat. I got a $0.50 raise this year. That's peanuts compared to how my home insurance went up by a few hundred this year because my condo's insurance has doubled in two years.

This is unsustainable for the economy.

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