On the Fox Business Network’s Big Money in the Morning program, the panel were aghast at the latest inflation data, admitting inflation is outpacing workers’ wages and worrying about an interest rate hike right before the midterms.
Normally, they try to put lipstick on the pig when covering the horrible Trump economy, but they decided to inject some honesty into their report after consumer prices rose 3.7% for the year.
So 45% odds of an October rate hike now that obviously is a number that changes all the time. 45% in October?
Up from a 21% chance.
They’re going to hike in the month before the midterms?
I said it was 22%.
22%.
I do not, I do not see that.
I know you don’t like headline, but if this is now the biggest jump since May, it is outpacing workers’ wages.
We’ve talked about how real wages for now, average hourly earnings for September are down 7 tenths of 1% year over year.
Ouch!
Fox News and the rest of the right-wing establishment are deathly afraid that the Fed will raise rates before the midterms.
And they should be.
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