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

Per below, the whole US yield curve shifted up in reaction to the data (see prior post), including the 2-year which traded above 5% as markets pushed to December the expectation of the first rate cut by the #FederalReserve. (Amazing to think that, just four months ago, #markets… pic.twitter.com/gmZDG1xxGU

Recommended reading for anyone wishing for the Fed to cut rates. americanliterature.com/author/w-w-jacobs/short-story/the-monkeys-paw#google_vignette

A great op-ed by @Claudia_Sahm explaining why a strong US economy doesn't mean the Fed has to delay its rate cuts www.bloomberg.com/opinion/articles/2024-04-25/us-gdp-strong-economy-doesn-t-make-the-fed-s-job-harder?utm_source=website&utm_medium=share&utm_campaign=twitter via @opinion