Seasonally adjusted core cpi inflation is trending higher since July, and ticked up from 3.25% year over year in September to 3.30% in October.
Not seasonally adjusted inflation is up to 3.33% in October from 3.31% in September, also trending higher since July.
And yet Jerome Powell keeps cutting the Fed Funds Rate, 50 basis points in September and another 25 basis points last week. 10Y yield minus 2Y has been showing its displeasure ever since, reversing its healthy trend. So has the 30Y mortgage.
Congress continues to spend like drunken sailors, and Powell has joined them with loose monetary policy now after not tight enough policy EVER.
The whole thing is DISGUSTING. And the election changes NOTHING.
