PCE Price Index for Services Doesn’t Let Up. Goods Inflation Improves. Why Powell Is Frustrated with Inflation in Services by Wolf Richter • Dec 23, 2022 • 61 Comments Services inflation rages, but the durable-goods PCE price index had biggest month-to-month drop in years: yardstick for the Fed’s inflation target.
Fed Tightening Reduces Horrendous Wealth Disparity that QE and Interest Rate Repression Have Wrought: Fed Data by Wolf Richter • Dec 21, 2022 • 172 Comments The vast wealth of the top 1% households declined, the minuscule “wealth” of the bottom 50% increased a tad.
THE WOLF STREET REPORT: The Price of Easy Money Now Coming Due by Wolf Richter • Dec 18, 2022 • 188 Comments The Crazy Stuff & Asset Prices that arose during Easy Money are coming unglued as Easy Money ended.
Glimmer of Hope that Rate Hikes & QT Pushed Down Inflation or Just Another CPI Head Fake? (The Fed Warned on Head Fakes) by Wolf Richter • Dec 13, 2022 • 191 Comments Inflation in many services is red-hot. Health insurance CPI pushed down again by record mega-adjustment.
“Core Services” Inflation Gets Worse, “Core Goods” Inflation Backs Off: Yardstick for Fed’s Inflation Target, Core PCE, Nails What Powell Said Yesterday by Wolf Richter • Dec 1, 2022 • 125 Comments Inflation moving “sideways” at very high levels for nearly a year and hasn’t come down meaningfully, Powell said yesterday, and as we see today.
These Crazy Rallies on Hawkish Fed Plans Are Good Because Crashing Stocks & Seizing Credit Markets Would Cause the Fed to Wobble in its Inflation Crackdown by Wolf Richter • Nov 30, 2022 • 138 Comments There was a time when markets tried to force the Fed’s hand by crashing.
Euro Inflation without Energy Rages to New Record. Overall CPI Second Worst Ever by Wolf Richter • Nov 30, 2022 • 133 Comments The ECB’s horror show.
Inflation Makes Mess in Japan, Batters Yen. BOJ’s Kuroda Clings by His Last Fingernail to “Transitory” by Wolf Richter • Nov 18, 2022 • 78 Comments But he’ll be out in April.
Inflation Expectations Throw a Curveball by Wolf Richter • Nov 14, 2022 • 148 Comments This inflation continues to dish up surprises.
Services Inflation Spiked to Second Highest in 4 Decades, Would Have Spiked to Highest, If Not Slowed by Biggest-Ever Mega-Adjustment of Health Insurance CPI by Wolf Richter • Nov 10, 2022 • 180 Comments But there won’t be an adjustment for the Fed-favored “core PCE” price index that will come out before the next Fed meeting.
