Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
The Inflation That Keeps Marching Higher
On this episode of The Macro Memo, Lucas and Luna unpack the disconnect between markets' optimism and the persistent core inflation data. With the Fed's preferred PCE gauge showing annual core inflation at 3.3% and the ten-year breakeven rate holding at 2.39%, they ask whether the bond market is actually pricing in a longer fight than equity traders realize. They discuss the energy inflation shock from the Iran conflict, the 'double scar' effect on households, and what Fed comments from Goolsbee and Kashkari really signal. Lucas argues that the real story is not the…
The skinny
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