![]() In terms of our confidence: We, again, rely on what their projections are about the projection that inflation will come down, that it will moderate.Īnd we are also continuing to take steps to continue to grow the economy, continue to address the needs that the American people have in the economy. And we certainly - as the President has said, he welcomes and supports their efforts to take steps - or their plans to take steps. PSAKI: Well, I would say, as you know, the Federal Reserve has purview over - over taking the independent approaches they so choose to. Q Well, I guess, with the - just getting back to “How confident are you that a decrease can occur without hurting demand in the economy?” - was the second part of the question. I think there was another part of your question, but I wanted to explain what people should prepare for. So, that continues to be outside projections, even as we’re preparing for the new data tomorrow. So, above 7 percent, as I think some are predicting, would not be a surprise, even though we don’t know what the data is going to be - going to be.īut looking at that reading of it as we prepare for tomorrow is still consistent with the path, in our view - to go to your question - that leading outside forecasters continue to project that inflationary- inflation is expected to decrease over the course and moderate over the course of this year. Right? There’s monthly, and then there’s also the annual data. It’s not about the most recent trends, which I think is the important component for people to look at. That’s because year-over-year data largely reflects the price increases over the last year, as we’ve already talked about and we know about. PSAKI: And so, as we’re looking at that, we do - we expect a high year-over-year inflation rate reading in tomorrow’s data, given what we know about the last year - right? - and what we’ve seen over the last year. What is also coming out tomorrow is annual data - right? - which is, I think, what you’re talking about. ![]() And we’ll be looking at that wage growth compared - looking how wage growth compared to inflation in January as well. That’s a sign of progress that the inflationary increases are increased - decreasing, I should say, month to month. And in January, they were down almost half from where they were in October. So, in November and December, price increases showed relative to the month before - slowed relative to the month before. So, first, when we look at tomorrow’s data, what we’re looking at is recent trends in inflation. PSAKI: Well, let me start with a little bit of a preview just so - well, we don’t know the numbers I know there are projections - but just as people are preparing to look at these numbers and prepare to report on the numbers. ![]() And I was just wanting to ask: What do you see in the data right now that suggests inflation will fall quickly this year? And how confident are you that a decrease in inflation can occur without hurting demand in the economy? So, new CPI numbers come out tomorrow, and economists are forecasting an index of, I believe, 7.3 percent annually. The executives and organizations attending this discussion operate key parts of America’s power grid, and they know that the best way to ensure future economic growth is to make long-term investments to combat the climate crisis, increase the competitiveness of our industries, and protect our electrical grid from extreme weather events. The President and these executives will discuss - or they are discussing, I guess I should say - how investments to reduce greenhouse gas emissions and expand tax credits for clean energy and research - for research and development are necessary, overdue, and critical for increasing the resiliency of our electrical grid and essential to helping the pocketbooks of Americans around the country. Today, the President is hosting a roundtable of CEOs of electric utilities from all over the country to discuss his economic growth plan for the middle class - the Build Back Better Agenda - which will lower energy costs for working families, create good-paying union jobs, and build a reliable clean-energy future as we tackle the climate crisis. Get Involved Show submenu for “Get Involved””.The White House Show submenu for “The White House””.Office of the United States Trade Representative.Office of Science and Technology Policy. ![]() Executive Offices Show submenu for “Executive Offices””.Administration Show submenu for “Administration””. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |