Fed’s Favorite Inflation Indicator At 30-Year-High as Savings Rate Plunges to Pre-COVID Levels

“Despite sentiment slumping and buying attitudes crashing, retail sales outperformed this month (thanks to inflation driving nominal prices higher) and analysts expected spending to surge faster than incomes once again and they did with incomes rising 0.5% MoM (+0.2% MoM exp) and spending jumping 1.3% MoM (+1.0% MoM exp).”

Fed’s Favorite Inflation Indicator At 30-Year-High As Savings Rate Plunges To Pre-COVID Levels | ZeroHedge

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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