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Well, this is it, boys and girls. We’re doomed:
The Consumer Price Index has breached 2 percent for one month, which means hyperinflation is right around the corner. The Fed must act!
Never mind that the Fed doesn’t care about the CPI and pays attention to the PCE inflation index, which is well below 2 percent. Or that they really pay attention to the core PCE, which is also well below 2 percent. Inflation is always and everywhere ready to devour us.
Sarcasm aside, it is a little odd that the CPI and PCE went in opposite directions in November. I’ll be curious to see if that continues when we get the December PCE numbers.
