Good overview but the article doesn't address the real question as to SHOULD the index act this way? Obviously, a lower number benefits politicians and government but doesn't benefit people directly affected by every growing inflation. So what can be done about it?
Yes, another follow up question—what decisions are made on the basis of CPI? Is the only outcome to determine if the fed should raise or lower interest rates? And if so, is the current formula a good indication for that purpose?
Good overview but the article doesn't address the real question as to SHOULD the index act this way? Obviously, a lower number benefits politicians and government but doesn't benefit people directly affected by every growing inflation. So what can be done about it?
Yes, another follow up question—what decisions are made on the basis of CPI? Is the only outcome to determine if the fed should raise or lower interest rates? And if so, is the current formula a good indication for that purpose?
Brilliant!