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    Biden Administration Is Rigging Economic Data

    February 29, 2024
    Public Domain

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    There was a collective gasp of surprise two weeks ago when not only did CPI and core CPI both come in far hotter than expected, but the closely watched sticky Super Core inflation - Core CPI Services Ex-Shelter index - soared 0.7% MoM (the biggest jump since Sept 2022...

    ... and while we correctly warned that the inflation print would come in red hot (see "CPI Preview: "There's A Genuine Risk" Inflation Will Come In Hotter Than Expected") most on Wall Street did not, and were scrambling to come up with justifications for why they were again collectively wrong, with Goldman being of particular note, as the bank attributed the spike to what it called a "January effect" and then assured its clients that "while some of the OER strength could persist if driven by the rebound in the single-family market, we continue to expect inflation in non-housing services to normalize in February and March now that the start-of-year price increases have been implemented."

    Now the reason why Goldman, and so many others, scrambled to goalseek a narrative that sees the Fed cutting rates in March... or May.... or June (as Goldman now does, after previously forecasting both the former months as the start date of the Fed's easing cycle)... or whenever, is because that's the only thing that will validate the very bullish year-end S&P price targets by various banks which have been aggressively raised in recent weeks as the Wall Street lemming crew chased the momentum ignition sparked by a few AI-linked companies. But there is another reason why the Fed needs to cut: if it does not the odds of the market maintaining its upward glidepath into the November election, not to mention the so-called "strength" Bidenomics, are as dead as the dodo...

    To read more visit Zero Hedge.

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    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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    tom Lahman

    For the past several months, Pedo Joe has been handing out billions in another election buying attempt. A new surge of inflation was inevitable!

    He keeps saying: "This country's doing fine!"
    But ain't nobody here living that lie!
    And we all know what's real: "What Joe can't win he'll buy or steal!"


    No duh.


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