Tame "core" inflation?
The U.S. Labor Department reported the consumer price index (CPI) gained 0.6% in May. Excluding food and gasoline the CPI went up only 0.2% as economists had forecast. The yearly increase of CPI went up to 2.1% just above the Fed's "comfort zone" of roughly 1.5% to 2%.
Do you know anyone who lives predominantly on "core" (i.e., no food and no gasoline)? I didn't think so. We will have to wait and see what the Fed's reaction to this is.
Do you know anyone who lives predominantly on "core" (i.e., no food and no gasoline)? I didn't think so. We will have to wait and see what the Fed's reaction to this is.
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