E-piphany

Honestly, I feel like I would really like to write about something other than new Fed Chairman Kevin Warsh.

The Bloomberg survey’s consensus numbers headed into CPI today were for +0.11% on headline inflation and +0.20% on Core.

One of the common complaints about the Consumer Price Index (CPI) is that it doesn’t reflect the way inflation feels to the individual.

People are worried about rising interest rates at the long end of the curve.

Okay, I will admit that I came into today thinking ‘this is one of the more low-stress releases in quite a while.

A few weeks into the Warsh Fed Chairmanship, and there are a couple of changes that I think are worth pointing out.

I saw a chart a few weeks ago, which someone sent me from The Daily Shot.

While the worst is probably over for the monthly CPI prints, the real question going forward is ‘how much better does it get?’

I read recently – I can’t find where – that stock/bond correlations in the US are the highest (most positive) they have been in decades.

By now readers will be well aware of USDi, the cryptocurrency whose price represents how many of today’s dollars you would need to buy a December 2024 dollar.