🇺🇸 Soft core CPI gave markets what they wanted. The PPI pipeline will take it back.
🇺🇸 Small businesses set prices at a 2023 hiking-cycle pace while cutting investment to a 2009 low
🇺🇸 The energy shock that pushed May CPI to 4.2% may be quietly doing the Fed's work
🇺🇸 Small business hiring falls to a six-year low while markets price a rate hike
🇺🇸 Consumers called the Iran shock transitory. Wednesday's CPI is the verdict.
🇺🇸 May's 172K payrolls and 54.0 ISM demolished the tariff recession call
🇺🇸 May payrolls beat, but the revisions erased the soft-landing story
🇺🇸 Collins calls the hold "close to neutral" as the Fed's real rate buffer approaches zero
🇺🇸 Vacancies hit a near two-year high, but nobody is actually hiring
🇺🇸 Warsh's first FOMC statement carries more signal than the 97%-priced hold
