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Our March story on why people want to recall Newsom We spoke to volunteers with the recall campaign on why they wanted Gov. Gavin Newsom out of office. Read More It's time to rebuild. Rebuild our community. Rebuild our businesses. The Capistrano Dispatch is here to support our community. Through our print, digital and social platforms we aim to connect our community with hyper-local unbiased news you won't find anywhere else. Part of our aim is to connect our community with the local businesses that make it possible for us to do what we do. Our livelihood is dependent on small business. It's the circle of support and we are forever grateful for our loyal readers and small business owners. We've worked hard to remain strong through the past year and now it's time to move forward. Help us help the community. Contribute today to help ensure that local journalism and our community not only survives but thrives.   Click here to support local journalism. STAY CONNECTED Copyright © 2021 Picket Fence Media, All rights reserved. You are receiving this email because you signed up to receive The Capistrano Dispatch E-News Blasts. Our mailing address is: Picket Fence Media 34932 Calle del Sol, Suite B Capistrano Beach, CA 92624 Add us to your address book

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What to Expect When You Are Expecting Expectations

                                                           

In the prevailing theory of inflation among Federal Reserve officials, inflation expectations matter a great deal.      September 13, 2021   Today's Top Stories From the Breitbart News Desk In the prevailing theory of inflation among Federal Reserve officials, inflation expectations matter a great deal. They believe that inflation expectations powerfully influence both where inflation is now and where it is going. If inflation expectations are "well-anchored" at the correct level, inflation will stay around that level. If they become unanchored, we might have a problem. The problem, of course, is no one quite knows how to measure inflation expectations. You can try to suss them out by looking at bond prices, particularly by comparing the differences in yields between inflation-protected bonds and regular bonds, the so-called breakeven rate. That might tell you what bond investors think of inflation, but it is far from clear that it is the bond investor expectations that matter when it comes to influencing future prices. Another method is by taking surveys. Surveys of consumers from Gallup, the University of Michigan, and the Conference Board all ask about expected infation. One of the newer entrants, from the Federal Reserve Bank of New York, has been attempting to gauge inflation expectations since 2013. On Monday, the New York Fed released the finding for August, and inflation expectations both for this year and three years from now hit record highs. Food prices are seen rising by 7.9 percent over the next 12-months. Rent is expected to increase 10 percent. Medical care costs are anticipated to rise 9.7 percent. The general price level is expected to rise 5.2 percent, up from 4.9 percent a month ago. This puts the Fed in a bind. The economy is weakening, according to many data points. Job creation was much lower than expected last month, and consumer confidence has deteriorated sharply. That weighs on the side of keeping monetary policy extremely accommodative. But the news that inflation expectations have raised anchor and set sail pushes the other way. Most likely, this will not get resolved at the Fed's September meeting. Instead, the Fed will wait to see which way things break: more sluggishness or more inflation? There's no meeting in October, so that pushes any big decision off until November. One thing no one knows is what Jay Powell and company will do if the economy continues to slow but inflation keeps getting worse. – Alex Marlow & John Carney Breitbart News Network     TOP STORY   Inflation Expectations Hit All-Time High in N.Y. Fed Survey Americans are expecting a record deluge of inflation over the next year—and they expect high levels of inflation to stick around for years, according to a report released Monday by the Federal Reserve Bank of New York. At the same time, expectations for future earnings growth declined, raising the prospect of stagflation. The N.Y. Fed's August Survey of Consumer Expectations found that the one-year-ahead inflation expectations jumped by three-tenths of a percentage point to 5.2 percent, the tenth consecutive monthly increase and the highest reading ever produced in data going back to 2013. [Click here for more]   IN OTHER STORIES... US budget deficit rises to $2.71 trillion through August WASHINGTON (AP) — The U.S. budget deficit rose to $2.71 trillion through August, on track to be the second largest shortfall in history due to trillions of dollars in COVID relief. In its monthly budget report, the Treasury Department said Monday that the deficit for the first 11 months of this budget year is 9.9% less than the imbalance during the same... [Click here for more]   Democrats Seek Tax Hikes on Businesses and Wealthy Americans WASHINGTON (AP) — House Democrats unveiled a sweeping proposal Monday for tax hikes on big corporations and the wealthy to fund President Joe Biden's $3.5 trillion rebuilding plan, as Congress speeds ahead to shape the far-reaching package that touches almost all aspects of domestic life. The proposed top tax rate would revert to 39.6% on couples earning more than $450,000, and there would be a 3% tax on wealthier Americans making beyond... [Click here for more]   3M's CFO Warns Inflation Is Running Hotter Than Expected, Auto Production Dropping Inflation is running hotter than expected amid ongoing supply chain disruptions and a shortage of semiconductors, the chief financial officer of 3M said Monday. Speaking at a Morgan Stanley conference, 3M CFO Monish Patolawala said input costs were rising at a faster than... [Click here for more] FOLLOW   Did you receive this email from a friend? Sign up to receive Breitbart Business Digest.    ©2021 Breitbart News 149 S. Barrington Ave. #401 Los Angeles CA 90049 USA     Want to change how you receive these emails? You can *update your preferences or *unsubscribe from this list.  Subscription Information This message was sent to  Webmaster220 Bible Study Blog *the blog owner has deleted the hyperlink intentionally

Wall Street Sees Signs of Saint Jerome's Blessing

You could almost hear the chorus on Wall Street praising the sainted Jerome Powell when the Bureau of Labor Statistics released its August read on consumer prices.      September 14, 2021 advertisement   Use Visa or MasterCard? Get Ready to SHRED Them!

Today's Top Stories From the Breitbart News Desk You could almost hear the chorus on Wall Street praising the sainted Jerome Powell when the Bureau of Labor Statistics released its August read on consumer prices. Make no mistake: inflation is still running stronger than it has in years, especially if you happen to be the sort of person who shops for groceries or occasionally fills up a gas tank. But for the first time since October, inflation did not come in higher than expected, and that was briefly a cause for joy in the digital halls of the stock exchanges. The Consumer Price Index rose 0.3 percent, one-tenth of a point below the consensus forecast. The annual figure was 5.3 percent, the highest figure since 2008. Perhaps more importantly, August was the first time we've had three consecutive months of more than 5.3 percent annual inflation since 1991. In other words, it has been a very, very long time since we ran inflation this high for this long. Excluding food and fuel, inflation was only up 0.1 percent compared with July and 4 percent from August 2020. In other words, prices were more stable if you exclude the necessities. Food prices rose 3.7 percent, including a 17 percent rise in the price of bacon and a 9.9 percent rise in the price of eggs. If this keeps up, breakfast will only be for champions of the new economy who can keep up with ever-higher prices. Sadly enough, the Wall Street celebration did not last long. The major indexes all ended the day in the red, with the domestically focused small-cap Russell 2000 falling by nearly 1.5 percent. It would appear that investors got around to figuring out that a slight easing of inflationary pressures due to a resurgence of the coronavirus is not exactly good news. Sure, it means another month or two of accommodative dispensation from the Fed. But it also means consumers recoiling from the prospect of a never-ending pandemic. – Alex Marlow & John Carney Breitbart News Network

TOP STORY

Bidenflation: U.S. Consumers Face Steeply Higher Prices on Beef, Bacon, Chicken, Fish, and Even Salad Dressing

Family budgets were put under even more strain in August as food prices continued to climb at a stunning pace. The price of food overall is up three precent compared with a year ago, data from the Bureau of Labor Statistic's monthly Consumer Price Index showed Tuesday. Compared with July, food prices rose four-tenths of a percentage point. Those numbers are mild, however, compared to the extreme price movements in the meats aisles of the grocery store. [Click here for more]

IN OTHER STORIES...

Consumer Prices Up 5.3 Percent as Food, Fuel, and Shelter Surge Higher

Consumer prices rose again in August, albeit at a slower pace than earlier in the summer. The Consumer Price Index rose 5.3 percent compared with a year ago, the Department of Labor said Tuesday. On a monthly basis, the CPI rose... [Click here for more]

Elizabeth Warren Asks Federal Reserve to Break Up Wells Fargo

Sen. Elizabeth Warren (D-MA) urged the Federal Reserve to break up Wells Fargo, pointing to the persistent stream of scandals pouring forth from America's third largest bank by assets. Warren, who sits on the Senate Committee on Banking, Housing, & Urban Affairs, sent a letter Monday to Federal Reserve Chairman Jerome Powell asking him to revoke one of the key operating licenses to force a... [Click here for more]

Democrat Tax Hike Proposal Leaves Carried Interest Loophole for Billion Dollar Private Equity Funds

When U.S. House Ways and Means Committee Chairman Richard Neal on Monday proposed a major set of tax hikes to fund Democratic President Joe Biden's social spending plans, one tax break popular among major Democratic Party donors was left in place—the taxation of carried interest income at the lower capital gains rate. President Joe Biden's American Families Plan originally included an end to what critics describe as the carried interest "loophole," a wrinkle in the tax code that allows managers of hedge funds and private equity funds to treat some income generated from their investment activity as... [Click here for more]

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