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On Monday, August 29th, CNBC told us, "Fewer Americans say they are living paycheck to paycheck as inflation begins to ease." Meanwhile, Jerome Powell's speech at The Fed's Jackson Hole meeting was published on August 26th and it tells a rather different story . . .

Key topics:

✔️ "Inflation is easing" yet that's not what Jerome Powell is saying, nor does it reflect the experience of parents who can't buy a $25 backpack.
✔️ When he's talking about a softening  of the labor market, do not be naïve about what he truly means.
✔️ "The burdens of high inflation fall heaviest on those who are least able to bear them." He's not wrong there.

Links I mention in this episode:

https://www.cnbc.com/2022/08/29/fewer-americans-live-paycheck-to-paycheck-as-inflation-starts-to-ease.html

https://www.federalreserve.gov/newsevents/speech/powell20220826a.htm

https://www.cnn.com/2022/09/04/business/back-to-school-expenses-struggle/index.html


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