Parting Shot -- Off The Net -- Away From Keyboard -- September 16, 2022

I've still not seen a good explanation tying this altogether.

Generally, inflation associated with "hot economy."

We have inflation (rent, used cars, groceries), but GDP does not suggest a "hot economy." Quite the opposite. A struggling economy. And the fed response: take actions to further depress the economy. I don't know.

• inflation
• gasoline demand cratering
• US GDP: negative x two quarters; possibly a third-consecutive negative quarter
• and the Fed is fast-cycling "Fed rates" -- despite struggling economy
  
• tight, tight, tight labor market;
• labor market: lagging indicator -- something we've been told for the past year

• my thesis, not yet disproved: US inflation -- tipping point -- the Biden administration gaslighting and keystoning America
  

BLS: link here. Generally, folks follow U-3. With current situation, U-1 makes a lot more sense.