CPI reports remind me of scene in Oh Brother Where Art Thou?
Inflation will be hard to bring down to 2%. Might get it to 3-4% but any inflation above 2% is damaging. Just told a group that we aren't pricing cd's at 7% so while rates are up, they're still lagging inflation.
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- Pete laments that escaping the chain gang will add another 40 years to his sentence, so he'll be imprisoned until he's 84 years old. Delmar, on the other hand, is more optimistic.
Delmar: Well, I'll only be 82!
Pete: [strangling Everett] You! Ruined! My LIFE!!
Everett: [choking] Now, I do apologize 'bout that, Pete.
Pete: [strangling Everett] You! Ruined! My LIFE!!
Everett: [choking] Now, I do apologize 'bout that, Pete.
Sent from my iPhone
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Original Message:
Sent: 11/14/2022 4:52:00 PM
From: Rob Blackwell
Subject: Tuesday Topic: Has Inflation Peaked?
The CPI rose 7.7% in October, down from 8.2% in September, and the core CPI-which strips out energy and food prices-climbed 6.3%, down from 6.6%. So are we there yet? Hard to say. Some costs have fallen considerably, including the costs of certain health care services and used cars, and retailers such as Target and Walmart are slashing prices to clear out bloated inventories. However, the labor market remains tight, corporate earnings have been stronger than expected, the travel industry is booming, and there have been indications energy costs are rising again.
What do you think, have we reached peak inflation? If so, what do you think this means for Fed policy going forward? If not, when will prices stabilize?
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Rob Blackwell
Chief Content Officer and Head of External Affairs
IntraFi
Arlington, VA
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