Here is where inflation runs hot – and it’s not imported consumer goods.
“It is not the beginning of a long series of rate cuts”: Powell.
In the US alone, it impacts nearly $40 trillion — with consequences for the real economy.
Inflation gets pitched as something inherently good the Fed is trying to make sure folks gets enough of. But someone’s paying the price.
The Fed could instantly claim victory and pocket the kudos.
Oh, it’s here alright. But we’re a little squeamish about calling it out.
Oh, it’s here alright.
The inflation index the Fed anointed as its yardstick booked two big jumps in a row: May near the top of the range since 2010; April, third largest jump since 2010.
For six months now, folks said the Fed had made a “U-turn” and would cut rates at the “next” meeting, etc. But none of it happened — and might not happen. Here’s why, in Powell’s words.
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