I’m currently on a train which is why today’s CPI report is late. I also think the previous 9-10 page commentary was helpful when I started writing it every month, but is no longer serving us well. The CPI report does matter, but it’s not driving markets like it did in ’22, ’23, and ’24. … Read more
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
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
