In another sign that fed funds rate cuts are coming, today's Producer Price Index showed barely any price inflation pressure. Throw this on with the faltering US economy and you have a 1-2 punch of reality hitting The Fed square in the nuts.
Though the PPI printed at "just below expectations", the truth in the number must be dug out of the data. The headline was this:
PPI 1.8%, Exp. 2.0%, Last 2.2%
PPI Core 2.3%, Exp. 2.3%, Last 2.4%
However, check this from ZH:
PPI: Nearly 80 percent of the May...