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Nothing Worse Than High Prices
Another month, another outsized revision on America's marquee gauge of consumer sentiment.
The final read on the University of Michigan's gauge for June was 68.2, up from 65.6 in the preliminary reading.
That's a sizable shift, and it's notable to the extent these revisions are now routine.
The average revision (absolute value) is 2.12 over the past five months. That figure for April of 2020 through January of 2024 was 0.82.
Make of that what you will. I suppose it's just more evidence to
Next up a gaslighting campaign by the Fed who is going to try to convince us that ‘everything’s fine’ because inflation has come down to 3% (what’s 2%, when did anyone ever say that’s the goal?). And then we’ll dive into rate cuts while intrenched inflation continues to bog down American households because “Mission Accomplished”!
Honestly does any of this even matter now? When Trump takes over next year the Fed will become a defacto CBRT and then we’ll find out just how bad inflation (blame it on Biden!) can really get.