NWSOFA Indivisible Fiscal and Economic Issue February Meeting

RSVP:   https://act..org/event/local-actions/164565

NWSOFA Indivisible Fiscal and Economic Issue Event:

A lot of economic information being released before the February meeting for us to talk about.  Overall the news is positive:

• 223,000 jobs added in December
• Twelve month December CPI at 6.5%; sixth straight month of decline from June’s 9.1%;
• November PCE showed 12 month inflation at 5.5%. December PCE inflation to be released at end of J3
• Fiscal year 2022 ended on September 30th.  The deficit declined by $1.4 trillion; spending declined by only $550 billion as student debt relief added over $400 billion to the FY 2022 deficit
• Real GDP growth for the 3rd quarter was revised up to a 2.9% annualized growth rate.  Initial 4th quarter estimate issued end of January
• Crude oil and gas prices are flat over the last month
• Natural gas prices are declining

Meeting Zoom Link: https://bit.ly/NWSOFA-Zoom