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Cleveland Fed July median CPI +0.5% m/m v +0.7% prior
16% trimmed mean +0.4% m/m vs +0.8% m/m
Follows US CPI earlierChicago Fed president Evans
Today’s inflation report is the first positive report
Inflation is unacceptably high
I’m optimistic in forecasting that next year core PCE inflation will be closer to 2.5%
Forecasts 2023 GDP at 1.5-2.5%
Economy will continue to grow in H2
Employment is a sign of a still-strong economy
I expect the Fed will increase rates this year and next year
It would take something adverse to trigger a recessionThe promised pull back in consumer prices never happened, CPI was resurgent in August. The market took the bait that the with the pullback in oil pric
[See the full post at: Stocks Wrecked after Hot U.S. August Inflation with Food, Electricity and Rent Prices Soaring]
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