CPI Tuesday

Tue, Sep 14, 2021 - 10:33am

All sorts of commentary today that the drop in CPI...below expectations for the first time in a year...somehow proves Powell correct. Namely, that inflation is/was indeed "transitory". Well, as the old ball coach likes to say, "not so fast, my friend".

And we've been stating this here for weeks, too. Yes, of course inflation would eventually stabilize. However, "transitory" means that you believe it's now going back to 1-2% annualized. Two things:

  1. Inflation is not going back to 1-2% annualized...though it may trend back toward 3-5%.
  2. But the damage is
  3. ...

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Key Economic Events Week of 9/13

9/13 2:00 ET Federal Budget
9/14 8:30 ET CPI
9/15 8:30 ET Import Pice Idx
9/15 8:30 ET Empire State Idx
9/15 9:15 ET Ind Prod and Cap Ute
9/16 8:30 ET Retail Sales
9/16 8:30 ET Philly Fed
9/16 10:00 ET Business Inventories
9/17 10:00 ET UMich Consumer Sentiment