On Friday’s broadcast of the Fox Business Network’s “Kudlow,” Breitbart Economics Editor John Carney predicted that inflation won’t come down to 2% next year and stated that the most recent inflation numbers “were held down by the fact that businesses now put things on sale for the holidays in October.”
Carney said, “I do think that we’re going to see a soft-ish landing next year, but I don’t think — it’s going to be closer to a no landing at all. I think inflation is not coming down to 2%. I actually think there’s a problem with these numbers we’re reading right now, both in the jobs numbers and the inflation numbers. The inflation numbers were held down by the fact that businesses now put things on sale for the holidays in October. Walmart, Target, Amazon all had big holidays back in October. Same thing with hiring. One reason hiring wasn’t impressive was because of the seasonally-adjusted numbers.”
Later, after discussing poor polling numbers on the economy, Carney stated, “So, the key to this is that most people — the recession isn’t the technical thing that the [NBER] says it is. They think of it as a bad economy. And what they look at is, can I afford this year what I could afford last year? And the answer is, no, you can’t.”
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