They promised us a soft landing and by golly they're giving it to us, good and hard

 We're on the glide path of permanent 3.8% year over year core inflation. 

 

 

 

Core CPI inflation in the United States in May at 5.32% year-over-year has hardly come down from 5.58% in January

 

Core inflation has been above 5% year over year for 16 months, overall inflation at or above 5% for 22 months

 

Year over year in December, broad inflation is down for six consecutive months, core inflation is down three consecutive months

 

But there's still a long way to go to get to 2-ish percent in either category.

The Fed Funds Rate will be kept higher for longer.