Fed’s Nightmare, but it’ll cut anyway: CPI, Core CPI, and Core Services CPI all over 4% annualized. Goods prices spiked for Used Vehicles, Food, Gasoline.
Result of withered demand: Days on the market in Los Angeles, San Diego, Orange County, Riverside, San Francisco, San Jose & Silicon Valley, Sacramento, Fresno.
The Treasury market counts on the tariffs to slow the supply of new debt and could throw a hissy-fit if they end while the Fed cuts rates into accelerating inflation.
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