Give Me Liberty Or…

Give Me Liberty Or…

Market participants will spend the week talking about inflation and COVID. That means this week will be the same as every other week. But over the next several days, the debate promises to be especially animated. CPI is due Wednesday in the US, where price pressures abated last month. Or at least according to economists' forecasts. Consensus is looking for a sharp deceleration on both the headline and core prints (figure below). Generally speaking, the Fed is running short on plausible deni
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2 thoughts on “Give Me Liberty Or…

  1. DeSantis won the governorship in 2018 by less than 33,000 votes. It would be hard to believe that there haven’t been at least that many Republican voters killed or hospitalized by the virus and rethinking their choice of a pro-covid governor.

  2. Jay Powell signaled his equality bona fides by relaying an account of his daily commute past growing throngs of unhoused people. It would have been much more reassuring, at least to me, if he had had a little more courage beyond the patently obvious. That would mean not merely reporting what his retinas are processing, but actually delivering THIS sort of truth bomb:

    “[O]nce the unemployment rate gets back to pre-crisis levels, there won’t be any appetite among a predominately white, wealthy panel of technocrats for chancing an inflation spiral in the interest of advancing the economic interests of African Americans.”

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