Fed’s Inflation Goal ‘Elusive’ As US Economy Picks Back Up

So much for the slowdown. Business activity in the US picked up markedly in May, according to preliminary PMIs released by S&P Global on Thursday. The updates don't count as "top-tier" data and they'll be summarily dismissed as ancillary once ISM releases its PMIs for May in two weeks. But as incremental, "fill-the-void" releases go, the S&P Global updates serve a purpose. (Don't ask me what that purpose is. I don't have a great answer.) The services measure printed 54.8 in the flash