Turning the Fed’s Inflation Rubik’s Cube on its Head
- June 14, 2024
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Turning the Fed’s Inflation Rubik’s Cube on its Head
Last week’s U.S. inflation report was highlighted by yet another modest slowdown in inflation. Stock markets reacted well to the inflation data, breaking out to new all-time highs. Yet consumer confidence – which historically tends to track closely with stock market performance – remains subdued versus its pre-COVID peak.