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Inflation Demon Resurfaces As Consumer Psychology Deteriorates
The inflation demon isn't yet fully exorcized from the US economy.
University of Michigan sentiment printed a bad miss in the preliminary read for November, released on Friday, but the more important takeaway was another brush with the highest longer-term inflation expectations in a dozen years. "Another" because we've seen this movie before.
On June 13, 2022, Wall Street Journal "Fed whisperer" Nick Timiraos tipped Jerome Powell's intention to escalate rate hikes to 75bps. There were two data
