Is the US printing its life away?
M1 Money is growing at 53.2% YoY as ISM Manufacturing Prices skyrocket to 77.6.
Since The Fed’s favorite inflation measure, core Personal Consumption Expenditure Expenditures (PCE) growth was 1.40% YoY at its Q3 2020 reading, the latest M1 and ISM Price readings indicate the US Core PCE YoY is likely to rise as well.
(Bloomberg) — Federal Reserve Bank of Chicago President Charles Evans said the U.S. central bank shouldn’t be shy about letting inflation run, as it has promised, above its 2% target in order to make up for years of undershooting that goal.
“If we try to fine-tune a very modest inflation overshoot of only a 10th or two, we run a very large risk of failing to achieve our 2% averaging goal within any reasonable amount of time,” Evans said Monday during a virtual presentation to the annual meeting of the American Economics Association.
Hmm. Don’t be shy, but why is The Fed’s Dots Plot showing an increase in the Fed’s Target rate AFTER 2023?
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