→ Fed's 2% inflation target is “firm and fixed.”
→ Inflation is still too high, with PCE at 3.7% over the past year.
→ 54% of goods and services in the PCE basket are still seeing prices rise by more than 3%.
→ Better-than-recent inflation data is NOT convincing him that the underlying trend has improved.
→ The economy is still strong and the labor market is nearly at full employment.
→ Financial conditions are NOT restrictive despite current interest rates.
→ S&P 500 earnings have surged by more than 20% over the past year.
→ More than half of this year’s business investment growth is tied to building AI.
#TinFed
→ Inflation is still too high, with PCE at 3.7% over the past year.
→ 54% of goods and services in the PCE basket are still seeing prices rise by more than 3%.
→ Better-than-recent inflation data is NOT convincing him that the underlying trend has improved.
→ The economy is still strong and the labor market is nearly at full employment.
→ Financial conditions are NOT restrictive despite current interest rates.
→ S&P 500 earnings have surged by more than 20% over the past year.
→ More than half of this year’s business investment growth is tied to building AI.
#TinFed