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17.10.26 - 16:12
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Can the Fed Fight Inflation Without Hurting Farmers? (Bloomberg)
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Chicago Fed President Austan Goolsbee traveled to rural Illinois to hear directly from farmers facing lower crop prices and rising costs for fuel, fertilizer and other inputs. Those conversations offer the Fed a ground-level view of inflation pressures that may emerge before they are fully reflected in national data. (Source: Bloomberg)...
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16.10.26 - 23:42
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Thomas Hoenig on Rate Hikes, Inflation Outlook (Bloomberg)
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Thomas Hoenig said Kevin Warsh's refusal to signal the Fed's next move was appropriate and gives policymakers flexibility ahead of the late-October meeting. Hoenig noted that inflation has risen and could climb further, citing energy costs and their spillover into core prices. He speaks with Romaine Bostick & Kristine Aquino on "The Close." (Source: Bloomberg)...
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16.10.26 - 16:21
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Bad Inflation Cures Itself. Good Inflation Doesn′t (ZeroHedge)
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Bad Inflation Cures Itself. Good Inflation Doesn't
Authored by Lance Roberts via RealInvestmentAdvice.com,
Key Takeaways
Inflation driven by supply shocks is "bad" inflation, and bad inflation is self-liquidating because rising income doesn't support it.
September headline CPI ran 3.7% while core sat at 2.6%. The gap is gasoline, up 34.2% over the year and now more than half of the monthly increase.
Real wages have turned negative, and labor's share of output just set its lowest reading since the series began in 1947.
The 10-year breakeven sits near 2.3%. The market that gets paid to price inflation is not pricing an inflation problem.
Most of the argument about inflation right now is a fight between people using the same word for two completely different things. One side sees a 3.7% headline print and starts sketching a repeat of 1979. The other sees core running more than a point below it and declares the problem solved. Both are reading the same release. The distinction that matters i...
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