Saturday Night Quarterback says, For the week ahead expect…

CPI headline inflation up at 9.1% annual rate in June

It’s not the kind of historical comparison you want to hear. Inflation, as measured by the Consumer Price Index (CPI rose at a 9.1% annual rate in June. That was the highest annual rate since November 1981. (Just as the Volcker Fed was raising interest rates to 14% to finally break inflation.) Economists had been expecting inflation of 8.8%. Which would still have been an increase from May’s 8.6% headline rate.

CPI inflation comes in hotter than expected at 7.5%

CPI inflation comes in hotter than expected at 7.5%

CPI inflation climbed at a 7.5% annual rate in January, the Bureau of Labor Statistics reported this morning. That was above the 7.3% expected by economists surveyed by Bloomberg and a big jump from the 7.0% annual rate reported in December. The inflation number just about guarantees that the Federal Reserve will raise its short-term benchmark interest rates at its March 16 meeting from the current 0% to 0.25% range.

Powell says just about nothing and market rallies

Powell says just about nothing and market rallies

The big news out of Federal Reserve Chair Jerome Powell’s told Congress appearance before the Senate today (President Joe Biden has nominated him for another term as head of the Fed) was that if inflation doesn’t come down, the Fed would more aggressively raise interest rates.“If we see inflation persisting at high levels, longer than expected, if we have to raise interest rates more over time, then we will,” Powell said in a Senate Banking Committee hearing. Yep, the Fed will fight inflation. “Dog bites man.” Film at 11.

Saturday Night Quarterback says, For the week ahead expect…

Inflation isn’t exactly dead

Wall Street is counting on the Federal Reserve to stay on the sidelines until September and then resume cutting interest rates. Some big money advisors are even counting on the Fed to cut interest rates again before September. Bloomberg ran an interview this morning...
Saturday Night Quarterback says, For the week ahead expect…

CPI inflation comes in on the mark–no surprises ahead of March 21 Fed meeting

After a worrying 0.5% jump in January, headline inflation as measured by the Consumer Price Index increased by just 02.% in February. That was right on the 0.2% mark expected by economists surveyed by Briefing.com. Core inflation, which excludes more volatile food and energy priced, rose 0.2% in February, again right at economist projections, after a 0.3% rise in January.