The median FOMC projection is for 2.8% core PCE inflation in 2024 (Q4/Q4). Will require inflation to fall from the 3.2% annual rate over the last 6 months to a 2.4% annual rate (monthly prints of 0.20%). Reasonable to expect slowing but I would still be a touch nervous. pic.twitter.com/1xvKPM5OFo

Measured on a comparable basis (which mostly means excluding shelter in the United States), inflation over the last 12 months was 2.6% in the euro area and 2.0% in the United States. pic.twitter.com/dE4lkD74xW

JPMORGAN: “.. These weak sentiment numbers are especially notable when contrasted with actual spending behavior—let alone the improving stock market and still firm labor market, both of which historically would be associated with much stronger sentiment.” #UMich 🇺🇸 pic.twitter.com/4FllMI3GZj

JPMORGAN: “.. Our current expectation is for core goods prices inflation to average roughly flat over the near term, but these trends suggest a risk it could turn slightly negative.” 👀 #DoveBait 🕊️ pic.twitter.com/vPVaBUQnRh