U.S. Inflation-Adjusted Spending Stagnates To 0% Growth As Prices Surge (Core PCE Deflator Rises To 4.7% YoY, Highest Since 1989 Implying A Taylor Rule Rate Of 11.84%)
by confoundedinterest17 The core Personal Consumption Expenditures (PCE) deflator numbers for November were released this morning and the print was a whopping 4.7% YoY, the highest rate since 1989. Meanwhile, U.S. consumer spending, adjusted for inflation (aka, REAL personal spending), …