The 2% Target Has Been Abandoned

Overview: The Federal Reserve concluded its October meeting and as expected, lowered the fed funds rate by 25bp (.25%). The market celebrated…until Chairman Powell said that the Fed hadn’t decided to cut another 25bp in December. This caused the market to fall, but I’m not sure under what circumstances he would have said the decision … Read more

May CPI is 3.3%

This piece was originally published on June 12th, 2024 Overview: Today, we got the May Consumer Price Index (CPI) report which showed an overall increase of 3.3% unadjusted in the last year and 0.2% vs last month. That’s slightly below last month’s 3.4% and expectations of 3.4%. The 0.2% monthly increase was below the 0.3% … Read more

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