VIDEO: "Fed Air" Executes a Soft Landing
By John Persinos
Welcome to my latest video presentation. The article below is a condensed transcript; the video contains additional details and several charts.

Political discourse during this year's presidential campaign season more closely resembles a WWE SmackDown than any sort of rational debate.
You're hearing some politicians and pundits rant about the ravages of inflation and the dismal state of the economy. To put it bluntly, this narrative is a lie. Let's look at the facts and how they affect investors.
The latest data confirm that inflation continues to dramatically fall and the economy is growing. Indeed, Americans last week got further good news on inflation and the economy.
The U.S. Bureau of Economic Analysis (BEA) reported last Friday that the gain in the "core" personal consumption expenditures price index (PCE), which excludes the more volatile costs of food and energy, slowed to 2.9% year over year in December. The core PCE was up 0.2% on a month-over-month basis. The consensus forecast of economists had called for increases of 3% and 0.2%, respectively.
While the general public more closely follows the Labor Department's consumer price index (CPI), Fed policymakers prefer the PCE because it adjusts for shifts in what consumers actually buy, while the CPI measures prices in the marketplace. Core measures provide a means by which monetary policymakers can separate the noise and short-run fluctuations in the data from the more persistent, underlying trends.
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