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Yes, not looking good!

Karim writes:

Attached is the Fed’s favored inflation measure, the core PCE deflator.

Putting aside that 1% is the lower end of their defacto ‘comfort zone’, the speed of the move is as much a concern as the level.

  • M/M Core PCE was 0.09%
  • Personal income and wage and salary income were both 0.2% m/m, but are down -2.6% and -5.2% y/y respectively.
  • Initial claims up 17k to 551k (prior week revised +4k).
  • Total Ongoing Claims (continuing+extended+emergency) +35k


4 replies on “PCE/Claims”