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What Do You Get When You Print Boat Loads Of Money — Inflation Of Course!

Chair Powell presents the Monetary Policy Report on February 12, 2020

The Federal Reserve Bank of the United States has been printing boat loads of money. In banana republics they call it what it is — money printing. Here we call it ‘quantitative easing’.

What do you get when you print boat loads of money? Why, inflation of course.

This morning’s CPI data confirmed just that.

The question is – will the Fed stick to its guns with its new plan to ‘let inflation run hot?’

Futures are down of the highs on the data dump this morning.

Consumer Price Index (MoM) (Aug) printed at 0.4% vs 0.3% consensus estimate.

Consumer Price Index Core s.a. (Aug) printed at 268.75.

Consumer Price Index n.s.a. (MoM) (Aug) printed at 259.918 vs 259.518 estimate.

Consumer Price Index ex-Food & Energy (MoM) (Aug) printed at 0.4% vs 0.2% estimate.

Consumer Price Index (YoY) (Aug) printed at 1.3%. vs 1.2% estimate.

Consumer Price Index ex-Food & Energy (YoY) (Aug) printed at 1.7% vs 1.6% estimate.

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