News about inflation

From the @wsj article, “Why Is the Federal Reserve Always Surprised by Inflation? The central bank owes the public an explanation—and a serious effort to correct its flawed model.” #economy #markets #centralbanks #econtwitter #federalreserve pic.twitter.com/9pXVdePJAr

Hawkish Fed repricing extends: Traders push back the timing of the 1st Fed rate cut to Nov/Dec after hotter than expected Q1 Core PCE. pic.twitter.com/nhO5k5ZOvn

Fun fact: The Volcker Fed started cutting rates even as inflation resurged above 10% cause the economy was heading into recession. And it's the recession that got rid of inflation. pic.twitter.com/mobEw3Q1Zy

Today’s data suggests that tomorrow will be another uncomfortably hot day for inflation & the Fed. The PCE measure of core services inflation, which is one the Fed has been watching closely for a while, looks like it has been stuck ~ 3.3% for five straight months as of March.