Inflation

March CPI is 3.2%

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This piece was originally published on April 10th, 2024 Overview: Today, we got the March Consumer Price Index (CPI) report which showed an overall increase of 3.5% unadjusted in the last year and 0.4% vs last month. That’s above last month’s 3.2% and expectations of 3.4%. The 0.4% monthly increase annualizes to 4.9%. The Core … Read more

Notes from the Powell Press Conference

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Very little that’s new and of interest from Powell’s press conference. The highlights: – Talked about starting to taper quantitative tightening (QT). Said the plan is to get to the same level, but more slowly. – Lots of talk about the strong employment situation. Regular DKI readers know most new jobs are in government. The … Read more

Weekly Points – March 15th, 2024 – 5 Things to Know in Investing This Week – The Stagflation and Doom Issue

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This wasn’t a good week for the “pivot” people and asset gatherers who have been begging the Federal Reserve for lower rates. We got a higher-than-expected CPI and PPI. Making things worse, the short-term monthly numbers have started to accelerate meaning the disinflation story might be dead for now. Retail sales and manufacturing numbers were … Read more

Weekly Points – March 8th, 2024 – 5 Things to Know in Investing This Week – The Powell Just Hit the Panic Button Issue

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This week, Jerome Powell spoke to Congress and was more dovish than he’s been in years. He’s gone from channeling former Fed Chairman, Volker, who crushed inflation with interest rates approaching 20% to sounding like Volker’s predecessor, Arthur Burns, who reduced interest rates before getting inflation under control. We saw weaker than expected job reports, … Read more

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