US Inflation Cliffhanger Headlines Big Week For Markets
It's CPI week in the US. [Insert ominous cliché]
Wednesday's release isn't the last inflation update the Fed will see before the next policy gathering. That's PCE prices on April 26. But it'd be helpful, to put it mildly, if CPI would at least feign cooperation for a month or two.
The last two CPI releases weren't great from the Fed's perspective. Core price growth ran 0.4% on a month-to-month basis during January and February, inconsistent with the effort to cajole the 12-month print back to
People have jobs so they can afford to pay for the inflation (housing: if you can get it, supermarket sticker shock), but they’re not happy about it.
Also, wars are inflationary and between Ukraine and Israel I’d imagine there’s something there.