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April PCE of 2.7% – Consistent with Expectations

This morning, we got the April Personal Consumption Expenditures (PCE) report. This is the preferred inflation gauge of the Federal Reserve. The PCE was up 0.3% vs last month and 2.7% vs last year. This was the same as last month and consistent with expectations. The Core PCE, which excludes food and energy, was up … Read more

March PCE of 2.7% Comes in High

This morning, we got the March Personal Consumption Expenditures (PCE) report. This is the preferred inflation gauge of the Federal Reserve. The PCE was up .3% vs last month and 2.7% vs last year. This was above expectations of 2.6%. The Core PCE, which excludes food and energy, was up .3% vs last month and … Read more

Weekly Points–March 29th, 2024 – 5 Things to Know in Investing This Week – The Shockwave Issue

The Personal Consumption Expenditures (PCE) Index is the preferred inflation metric for the Federal Reserve. This month’s report came out during Good Friday when the markets are closed. Within hours, the hawks who favor higher rates and the doves who favor lower rates all claimed the report vindicated their view. We’ll elaborate. Shockwave Medical $SWAV … Read more

January PCE of 2.4% is Consistent with Expectations

This morning, we got the January Personal Consumption Expenditures (PCE) report. This is the preferred inflation gauge of the Federal Reserve. The PCE was up .3% vs last month and 2.4% vs last year. The Core PCE, which excludes food and energy, was up .4% vs last month and 2.8% vs last year. All of … Read more

Weekly Points – January 26th, 2024 – 5 Things to Know in Investing This Week – The Super-Duper Inconsistent Data Issue

Every week in January, we’ve been pointing out the inconsistencies we see in macro-economic data. The trend becomes even more pronounced this week with contradictory insight on the economy being provided by the GDP report, the Fed’s preferred inflation metric, and the purchasing manager’s index. The results are so confusing that commentary by S&P Global … Read more

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