“It is extraordinarily rare for a country to be able to reduce inflation without creating a recession, but the Biden administration has managed to do so, producing what economists call a ‘soft landing,’ rather like catching an egg on a plate. As Bryan Mena of CNN wrote today: ‘The US economy seems to have pulled off a remarkable and historic achievement.’”

heathercoxrichardson.substack.…

#economy #economics #inflation #election #elections #election2024

October 30, 2024

On Friday, October 25, at a town hall held on his social media platform X, Elon Musk told the audience that if Trump wins, he expects to work in a Cabinet-level position to cut the federal government.

^{Heather Cox Richardson (Letters from an American)}

Hi Trump

“#Inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels.

The Commerce Department reported that prices rose just 2.1% in September from a year earlier, down from a 2.3% rise in August. That is barely above the Fed's 2% inflation target and is in line with readings in 2018, well before prices began surging after the pandemic recession.” #Bidenomics

abcnews.go.com/US/wireStory/in…

Inflation gauge closely watched by the Fed falls to lowest level since early 2021

As a presidential race profoundly shaped by Americans’ frustration with high prices nears its end, the government said Thursday that an inflation gauge closely watched by the Federal Reserve has dropped to near pre-pandemic levels

^{CHRISTOPHER RUGABER AP economics writer (ABC News)}

This year, Americans will spend about $11 billion on #Halloween—about half the amount spent annually on dental care for children under age 17.

Besides #inflation, costs are also rising as people buy more candy, more pet costumes, and more pumpkins:
theconversation.com/why-is-hal…
#economy

Why is Halloween spending growing when Americans are supposedly cutting back?

The ‘vibecession’ struck fear into retailers’ hearts, but spending on candy, costumes and pumpkins remains high.

^{The Conversation}