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Joined 1 year ago
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Cake day: June 13th, 2023

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  • That data is made of averages which aren’t worth a lot when you discuss people’s feelings about the economy, and also not everyone is getting a raise equally. Many don’t get one at all and those people are definitely still dealing with prices being higher.

    Additionally, the cumulative rate of inflation over the last four years is over 20%, so unless my annual salary rises to be at least that much higer than it was four years ago then my real buying power has still decreased. It doesn’t matter that the average raise is outpacing inflation if I never receive enough raises to at least keep up.

    States with laws that are hostile to workers - as mine is - make it hard to find employment where your employer will increase your pay to at least track inflation. This kind of thing gets lost in the discussion of averages.

    Just because a person might have a wealthy neighbor while they live in poverty doesn’t really mean that, on average, everyone is doing fine. It still means some are still hurting.

    From the article:

    Though the central bank now believes inflation is largely defeated, many Americans remain upset with still-high prices for groceries, gas, rent and other necessities.

    The comment on this article that you were originally responding to was most certainly one of frustration with this situation, not one aimed at the Fed’s decisions about interest rates. I feel that frustration too.

    It kinda doesn’t matter if the Fed made every single right move if this was still the outcome for a large swath of America. People are going to be voicing frustration every time an article about the economy is posted.

    I have an B.S. in Economics, by the way.