Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why Services Inflation Is The Fed's Real Problem
With the August CPI ticking up to 334.1 and core PCE stubborn at 130.7, the Federal Reserve faces a tricky decision this week. Lucas and Luna dissect why goods inflation has vanished while services prices continue to climb. They examine the wage-price dynamics in healthcare and housing, exploring how sticky service costs are keeping the FOMC on hold despite cooling headline numbers. This episode breaks down the specific sectors driving the 2.4 percent breakeven rate and what it means for interest rates in September.
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The skinny
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