I've been trying to tell people that food inflation in Trump's second term is below the 20 year average and yet I keep hearing people claim their grocery bill has tripled this year.
No it hasn't.
The Fed F'ed up.
Food at home is 2.1%. That is about half the long run average near 4%. Not the crisis they want you to think. It's below normal.
Trimmed mean PCE is 2.2%, the slowest since 2021, and already running near 2% on recent months. Underlying inflation is at target. FOMC needs an Econ 101 refresher course.
Yes, gas is high but that will fade. The Fed, under Warsh still hiked 25bp in September, the first hike since 2023. Powell cut 50bp in September 2024 before the election when inflation was worse.
Tell me the Fed is not political and we can't be friends anymore. They don't even try to hide it
The people screaming crisis over grocery prices under their historical norm are wrong. The numbers don't lie.