Don't let them fool you, Joe Biden has nothing to do with this economy, it's his handlers (name starts with a vowel) that are creating Hellish conditions for the average American.
As expected, the OBiden economy is creating rampant inflation, the highest in 40 years since Jimmy Carter's miserable reality. The Federal Reserve now seems incompetent, or diabolically destructive.
With the odds of a 50bps rate-hike in March now almost 60% - rising in anticipation of an uber hawkish Fed trying to stomp on the 40-year high CPI - it appears the market is pricing in rate-cuts as a Fed policy error is almost guaranteed, reported Zero Hedge.
In other words, The Fed tries aggressively to stomp out inflation, crashes it all, and has to flip-flop back to rate-cuts and QE very quickly.
All of this is a symptom of the disease - which is an illegitimate, subversive regime in The White House.
Consumer Price Index (MoM) (Jan) printed at 0.6% vs 0.5% consensus estimate.
Consumer Price Index (YoY) (Jan) printed at 7.5% vs 7.3% estimate.
Consumer Price Index Core s.a. (Jan) printed at 286.43.
Consumer Price Index ex Food & Energy (MoM) (Jan) printed at 0.6% vs 0.5% estimate.
Consumer Price Index ex Food & Energy (YoY) (Jan) printed at 6% vs 5.8% estimate.
Consumer Price Index n.s.a. (MoM) (Dec) printed at 281.148 vs 280.389 estimate.
Continuing Jobless Claims (Jan 28) printed at 1.621M vs 1.651M estimate.
Initial Jobless Claims (Feb 4) printed at 223k vs 230k estimate.
Initial Jobless Claims 4-week average (Feb 4) printed at 253.25k.
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