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On Thursday’s broadcast of MSNBC’s “Katy Tur Stories,” host Katy Tur said that whereas it’s “not nice information,” that inflation elevated in July, “It’s not dangerous information,” when inflation retains growing.
Tur stated, “New financial knowledge exhibits inflation picked up through the month of July, however solely barely. It’s not nice information, however it’s in keeping with expectations, and it’s seemingly bought the eye of the Federal Reserve.”
Later, Reuters White Home Correspondent Jeff Mason said that the Biden administration desires to make sure “folks know what they see — what the administration, anyway, sees as the advantages of this financial system, and the numbers immediately kind of assist them. As you stated in your intro, it’s not nice information when inflation retains going up. Nevertheless it’s not as dangerous because it was.”
Tur responded, “It’s not dangerous information, yeah.”
Mason continued, “Yeah. And you may see Wall Avenue reacting very positively to it as a result of they assume this implies the Fed isn’t going to lift rates of interest extra.”
Tur added that unemployment is low, there hasn’t been a recession, and the inflation charge has dropped, “it’s nonetheless costly on the grocery retailer, it nonetheless will be costly, at occasions, for gas, it’s form of fluctuating. However the concept out there’s that issues are dangerous, how do you fight that concept when every little thing does appear to be getting into the fitting course, but, folks nonetheless don’t really feel prefer it’s getting into the fitting course?”
Mason responded that folks really feel the financial system is dangerous as a result of they have been cooped up through the pandemic, inflation bought “actually, actually excessive during the last couple of years, and now average, however nonetheless, eggs are nonetheless costly, beef remains to be costly, vehicles are nonetheless costly.”
Observe Ian Hanchett on Twitter @IanHanchett
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