Inflation Still Not Ready to Spiral Out of Control

Nobody cared much about yesterday’s inflation release from the Bureau of Labor Statistics because it didn’t show much of anything new. But that’s no reason to ignore it. Here it is:

As you can see, the upward blip at the start of 2018 is long gone, and inflation is now running at a very sedate 1.6 percent. There’s very little reason for the Fed or anyone else to be worried about inflation running out of control at the moment. BLS also released the January numbers for average earnings:

The average hourly earnings for all American workers clocked in at $27.56 in January. Thanks to low inflation, this translated into a 1.6 percent gain from last year. Not bad.

DOES IT FEEL LIKE POLITICS IS AT A BREAKING POINT?

Headshot of Editor in Chief of Mother Jones, Clara Jeffery

It sure feels that way to me, and here at Mother Jones, we’ve been thinking a lot about what journalism needs to do differently, and how we can have the biggest impact.

We kept coming back to one word: corruption. Democracy and the rule of law being undermined by those with wealth and power for their own gain. So we're launching an ambitious Mother Jones Corruption Project to do deep, time-intensive reporting on systemic corruption, and asking the MoJo community to help crowdfund it.

We aim to hire, build a team, and give them the time and space needed to understand how we got here and how we might get out. We want to dig into the forces and decisions that have allowed massive conflicts of interest, influence peddling, and win-at-all-costs politics to flourish.

It's unlike anything we've done, and we have seed funding to get started, but we're looking to raise $500,000 from readers by July when we'll be making key budgeting decisions—and the more resources we have by then, the deeper we can dig. If our plan sounds good to you, please help kickstart it with a tax-deductible donation today.

Thanks for reading—whether or not you can pitch in today, or ever, I'm glad you're with us.

Signed by Clara Jeffery

Clara Jeffery, Editor-in-Chief

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