Economic Outlook - The Federal Reserve is expected to cut interest rates, but there will be significant dissent regarding the adequacy of a 25 basis point cut, with some arguing it is insufficient given ongoing inflation concerns [2][4] - Current inflation remains above the 2% target, and there are worries about the labor market not showing strong declines, indicating a mixed economic outlook [3][9] Fed Independence and Diverging Opinions - There are concerns about the independence of the Federal Reserve, with varying opinions among officials on the appropriate course of action regarding interest rates [4][6] - Divergent views on the economy lead to uncertainty, with some officials advocating for a more aggressive rate cut while others oppose any cuts [6][7] Inflation and Labor Market Dynamics - The last inflation reading showed a decline, but there are fears that higher inflation could return due to tariffs affecting consumers and businesses [8][10] - Wage growth has increased from an average of 1.5% before the pandemic to 2-3% now, influenced by the retirement of baby boomers, which may contribute to persistent inflationary pressures [11]

Economic Outlook & Inflation - The discussion revolves around the perception of affordability and the impact of inflation on the US economy [2] - Inflation averaged over 5% during the Biden administration's four years [2] - Current inflation is at 3%, considered still too high [2][5] - Real average weekly wages fell during the Biden years due to inflation [5] - Real wages have increased by approximately $1,200 this year, partially offsetting a $3,000 "hole" created by previous policies [7] Government Policies & Spending - The previous administration's policies are blamed for creating a "big hole" that people are still trying to recover from [3] - Increased government spending is cited as a cause of runaway inflation [4] - Obamacare subsidies are criticized for disproportionately benefiting insurance companies and driving up insurance policy prices [9][10] - The fastest inflation in the economy is attributed to government subsidies for Obamacare insurance [10] Cost of Living - The typical monthly mortgage payment has approximately doubled [3] - The cost of a typical bag of groceries increased from around $400 to $512 during a certain period, with minimal increase since then [3]

ation did rise by 0.3% month overmonth in June and 2.7% year-over-year. That's higher than last month's figure of 2.4%. I would ask also that 2.77% year-over-year without the impact of tariffs.That feels like that is setting the groundwork for something that can be pretty impactful to a lot of consumers. What are you expecting. Yeah, it is higher than we would like to see it and it's higher than the Fed's target rate, but when you look at wage increases, those have been about 3 three and a half%.And so wage ...