Once again, whatever you think about whether Joe Biden caused all the inflation or where it might go next, the data clearly indicate it’s no longer “high” & obviously wasn’t “permanent.” In fact, we are closer now to the Fed’s actual PCE target than we’ve been for nearly the entire time it’s existed
Reposted from
Mark Copelovitch
Would it surprise you to learn that we are now to the Federal Reserve’s actual 2% inflation target than we have been <~85%> of the time (155 months) since the Fed formally established its 2% PCE target in 2012? In all the obsessive inflation coverage, have you heard this even once?
Comments
but inflation is a little bit like CO2 production: slowing the growth is a good thing, but what people really feel they need is a *reversal* of the huge increases that have already occurred. and that's not happening soon.