Today’s inflation reading was amazing’”both CPI and core CPI. This is the third straight month of zero or falling inflation. All those inflation hawks circling the sky out there’”desperately searching for a rise in consumer prices’”well, they just got bit in the rear.
Take a look at the last three big reports:
Retail sales: Wednesday’s beautiful retail number handily beat market forecasts. The strong showing demonstrated (once again) the remarkable resiliency of U.S. consumers. Incidentally, this development takes any hypothetical zero Q4 GDP off the table. Sorry permabears’