This morning, the Fed's preferred inflation indicator was released. It indicated that the PCE deflator was unchanged at the high end of the Fed's comfort zone at .2%, but just about as expected. Of course, just about everyone knows that government undercalculates inflation. Like a fox in the hen house, it has a motive to do so, since it provides cover to keep the Social Security COLA limited and for Congress to engage in more spending and for the Fed to continue inflating.
The PCE income inflation index was .5%, suggesting that income levels may push inflation higher.
The US Dollar is losing ground against the Yen and the Euro in the immediate aftermath of the data release.
The PCE income inflation index was .5%, suggesting that income levels may push inflation higher.
The US Dollar is losing ground against the Yen and the Euro in the immediate aftermath of the data release.
