Monday, September 15, 2025
  • Login
Euro Times
No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology
Euro Times
No Result
View All Result

Fed’s Inflation Nowcasting Data Shows Future CPI Increases, US Gross National Debt Hits $31 Trillion – Economics Bitcoin News

by Jamie Redman
October 5, 2022
in Cryptocurrency
Reading Time: 5 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


A recently published forecast stemming from the Federal Reserve Bank of Cleveland’s Inflation Nowcasting data indicates upcoming U.S. consumer price index (CPI) metrics will likely be elevated. The newly predicted CPI levels were recorded the same day America’s gross national debt surpassed $31 trillion on October 4, as the country’s growing debt continues to rise rapidly.

Fed’s Nowcasting Report Shows Inflation May Not Have Peaked, Data Predicts September and October Core CPI to Jump 0.5%

The U.S. central bank may not be too keen on slowing down rate hikes if inflation continues to run rampant despite the flak the Federal Reserve has received for aggressively raising the benchmark lending rate. Data from the most recent Inflation Nowcasting report indicates that the CPI readings for September and October will be higher than expected. Nowcasting in economics is like the weatherman’s forecasting the weather as the economic indicator utilizes three points in time (present, very near future, very near past) to predict future outcomes.

The Cleveland-based U.S. Federal Reserve System’s Fourth District branch uses nowcasting to predict the inflation rate increases in the future, and the most recent update is not pleasant. The report estimates a 0.3% month-on-month increase for September and an increase of 0.7% in October. The Cleveland Fed’s Inflation Nowcasting report also shows core CPI will increase by 0.5% for both months. Of course, the Inflation Nowcasting report is merely a prediction and like the local weatherman, nowcasting can be right most of the time and the indicator can also be wrong some of the time.

Fed's Inflation Nowcasting Data Shows Future CPI Increases, US Gross National Debt Hits $31 Trillion
The Cleveland Fed’s Inflation Nowcasting report updated on October 4, 2022.

Americans won’t hear about September’s CPI report from the U.S. Bureau of Labor Statistics until October 13. While the Fed’s target is 2%, the report for August’s inflation rate had shown the CPI was still running hot at 8.3%. Alternative inflation rate statistics published on September 13 by shadowstats.com indicate CPI is above 10%. The Truflation dashboard shows CPI data for October 3, 2022, year-over-year, is 8.67%. While shadowstats.com data shows all-time highs, the Truflation stats show inflation may have peaked at 11.93% on March 11, 2022.

U.S. bureaucrats and the country’s central bankers have blamed the nation’s skyrocketing inflation on things like the Covid-19 pandemic, supply chain shocks, and the ongoing Ukraine-Russia war. A number of economists blame the U.S. government’s and the Fed’s stimulus and spending following the onset of the pandemic. While the Federal Reserve increased the monetary supply during the last few years like no other time in history, the U.S. government has dedicated trillions of dollars toward infrastructure packages and foreign aid. Moreover, on Tuesday, October 4, 2022, U.S. gross national debt surpassed $31 trillion.

The New York Times (NYT) reported that the National Debt topping the threshold was disclosed in a U.S. Treasury Department report. The NYT report quotes Michael A. Peterson, the chief executive officer of the Peter G. Peterson Foundation, when he said that higher interest rates could increase government spending. According to the Peterson Foundation’s estimates, higher rates could lead to an extra trillion on top of what the U.S. government will spend on interest payments in ten years.

“So many of the concerns we’ve had about our growing debt path are starting to show themselves as we both grow our debt and grow our rates of interest,” Peterson said. “Too many people were complacent about our debt path in part because rates were so low.”

Tags in this story
$31 Trillion, billions, Cleveland, Cleveland Fed, consumer price index, Covid-19 pandemic., CPI Data, economics, Fed, Federal Reserve, gross national debt, higher rates, inflation, inflation rate, Inflationary pressure, interest rates, Michael A. Peterson, National Debt, Peter G. Peterson Foundation, report, spending, supply chain shocks, trillions, U.S. Government, U.S. Treasury Department, Ukraine-Russia war, US National Debt

What do you think about the Cleveland Fed’s Inflation Nowcasting report and the national debt skyrocketing past $31 trillion on October 4? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It





Source link

Tags: BitcoinCPIDataDebtEconomicsFedsFutureGrosshitsincreasesInflationNationalNewsNowcastingShowsTrillion
Previous Post

RBI plans to extensively use AI, ML to improve regulatory supervision

Next Post

Microsoft’s October Surface event: The hardware we expect to see

Related Posts

Hot and Cold Crypto Wallet: Which One is Safer and Smarter in 2025 | by Swapan Das | The Capital

Hot and Cold Crypto Wallet: Which One is Safer and Smarter in 2025 | by Swapan Das | The Capital

by Swapan Das
September 10, 2025
0

Press enter or click on to view picture in full measurementpicture edit by Creator utilizing CanvaThose that are investing or...

Germany’s Biggest TV Channel Features Ripple, XRP On Air

Germany’s Biggest TV Channel Features Ripple, XRP On Air

by Christian Encila
September 5, 2025
0

Ripple and its native token XRP have been given uncommon mainstream publicity on German finance channel Der Aktionar TV. In...

Incremental Learning in AI 2025: Overcoming Catastrophic Forgetting & Boosting Efficiency | BitX Case Study

Incremental Learning in AI 2025: Overcoming Catastrophic Forgetting & Boosting Efficiency | BitX Case Study

by Euro Times
September 4, 2025
0

Navigating the Shift from Static Models to Dynamic, Lifelong Learning Systems 1. Why AI Needs to Evolve: Beyond Static Intelligence...

12 Months of Crypto in 2 Columns: 5-Digit Winners and Double-Digit Losers

12 Months of Crypto in 2 Columns: 5-Digit Winners and Double-Digit Losers

by Jamie Redman
August 31, 2025
0

Crypto’s final 12 months delivered excessive dispersion, with a cluster of tokens posting four- and five-digit positive factors whereas a...

BitX Mining & BitX V2 Accelerator: Driving AI-Powered Web3.0 Growth in Turkey and Iran

BitX Mining & BitX V2 Accelerator: Driving AI-Powered Web3.0 Growth in Turkey and Iran

by Euro Times
September 1, 2025
0

BitX Mining is emerging as a global innovator in AI-driven Bitcoin mining technology, introducing solutions that redefine efficiency, accessibility, and...

JPMorgan Commits 0M to AI Hedge Fund Numerai

JPMorgan Commits $500M to AI Hedge Fund Numerai

by Cointelegraph By Sam Bourgi
August 26, 2025
0

Numerai, an AI-driven hedge fund backed by Paul Tudor Jones, has secured a dedication of as much as $500 million...

Next Post
Microsoft’s October Surface event: The hardware we expect to see

Microsoft's October Surface event: The hardware we expect to see

What Is an IPO Lockup Period?

What Is an IPO Lockup Period?

Israel Information Center organizes award ceremony for books on Shimon Peres, Moshe Sharett

Israel Information Center organizes award ceremony for books on Shimon Peres, Moshe Sharett

September 14, 2025
Festive offers, tax cuts to fuel retail lending by banks

Festive offers, tax cuts to fuel retail lending by banks

September 14, 2025
Vibe coding has turned senior devs into ‘AI babysitters,’ but they say it’s worth it

Vibe coding has turned senior devs into ‘AI babysitters,’ but they say it’s worth it

September 14, 2025
Phoenix to finance four Enav urban renewal projects

Phoenix to finance four Enav urban renewal projects

September 14, 2025
BSE seeks further tightening in SME IPO rules

BSE seeks further tightening in SME IPO rules

September 14, 2025
Businesses Are Putting 22% Of Their Profit In Bitcoin, Report Says

Businesses Are Putting 22% Of Their Profit In Bitcoin, Report Says

September 14, 2025
Euro Times

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business
  • Cryptocurrency
  • Finance
  • Health
  • Investing
  • Markets
  • Politics
  • Stock Market
  • Technology
  • Uncategorized
  • World

LATEST UPDATES

Israel Information Center organizes award ceremony for books on Shimon Peres, Moshe Sharett

Festive offers, tax cuts to fuel retail lending by banks

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Finance
  • Business
  • World
  • Politics
  • Markets
  • Stock Market
  • Cryptocurrency
  • Investing
  • Health
  • Technology

Copyright © 2022 - Euro Times.
Euro Times is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In