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Otherwise Favorable PPI Release May Bias Fed’s Favored Inflation Metric Higher
There was more incrementally good news on the US inflation front Thursday, when the BLS said producer prices were unchanged on the headline in February. There's a caveat though vis-à-vis the Fed's preferred measure of consumer price growth. Hold that thought.
Thursday's was the first unchanged MoM print on the headline PPI gauge since July, and it undershot consensus, which expected a 0.3% gain. The range of estimates from 51 people who, if you can believe it, get paid huge sums of money to gu
An aside
Although ham fistedly, does reduction in the public payroll fit the current economic situation and should Biden have begun it?
From an MMT perspective.