Trump: “I Love the Inflation” (opens in new tab)

Which is good insofar as we’re going to get plenty more of it (see quote here). PPI upside surprise +1.1% vs. +0.7 m/m (Bloomberg). Core slightly below consensus (+0.4% vs. +0.5%). AIER’s Everyday Price Index near my estimate of (1.18% m/m vs 1.16% nowcasted). Figure 1: Headline CPI (bold black), chained CPI, n.s.a. (green), CPI […]