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Hot Producer Prices, Cool Retail Sales Send Fed Mixed Message
Producer price inflation across the world's largest economy overshot and US retail sales came in soft, key data released on Thursday showed.
The warm PPI report should be a source of consternation. It came on the heels of a CPI release that showed price pressures are still percolating and beyond that, the wholesale inflation figures suggest the update on PCE price growth later this month may not offer much in the way of a reprieve.
Headline PPI rose 0.6% last month from January, double the 0.3
I am now prepared to make an official call for Wednesday’s Fed meeting: Jerome Powell will say something disastrous at the press conference. That’s it. That’s the call.