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.
My couch, jeans, car, PC, sheets, and phone weigh in on globalization and the internet.
The economy is in a “very good place,” says Trump’s man at the Fed. And the Fed’s favorite inflation measure ticks up.
Here’s Where Americans Suffer Hot Inflation, But There Are Cool Spots Too
How Rising Home Prices & Rents Hammer the Real Economy.
Personal income sets record. Bond market bet on inflation may get challenged.
But then there’s the “average transaction price.”
We knew “free money would inevitably end”: CEO Jackson. “Affordability would become an issue – particularly around new vehicles.”
This will dog the stock market going forward.