Washington’s Infernal Inflation Machine, Part 3

No, it wasn’t a transitory “base effect”. Even the Fed’s very most favorite sawed-off inflation measuring stick, the PCE deflator less food and energy, was up by 1.99% per annum in April based on the two-year stack from April 2019. And if that’s not close enough for government work, then there’s the full PCE deflator […]
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