News about inflation

Tomorrow's News Today... BREAKING: THE FED HOLDS INTEREST RATES AT 5.25-5.50%, CITING FIRMER PRICE PRESSURES AND LOWER CONFIDENCE THAT INFLATION WILL MOVE DOWN TO THEIR 2% TARGET THIS YEAR.

Not encouraging for the Fed: New York Fed 5-year inflation expectations ticked up to 3% from 2.8%. UMich longer-term inflation expectations have also climbed a bit lately. Probably not enough to make officials freak out, but definitely something that they'll be keeping an eye…

Fed Chair Jay Powell’s approach to cutting interest rates based on forecasts that inflation will continue moving lower could be summed up by the phrase “Trust, but verify.” He used the word “confident” or “confidence” 20 times at a press conference www.wsj.com/economy/central-banking/stung-by-past-mistakes-a-wary-fed-takes-its-time-e361a364?st=57v57wvnlafntfi

🚨#FOMC statement "Myopic hawkishness" 1⃣ Rate steady 5.25-5.5% 2⃣ "Modest further progress" toward 2% 3⃣ Balance of risks "has" improved (past tense) 4⃣ No cut until "greater confidence" that inflation moving sustainably toward 2% 5⃣ QT tapering 6⃣ Unanimous pic.twitter.com/5zgDuRJsFU