Nowcasting The Core Price Level
Image Source: Pexels
CPI and PCE, as of 11/11, from Cleveland Fed:
Figure 1: Core CPI (blue), core PCE deflator (tan), both in logs, 2024M01=0. October CPI is nowcast, September and October PCE deflator is nowcast. Source: BLS, BEA via FRED, Cleveland Fed (11/11), and author’s calculations.
Contra Kevin (Dow 36,000/Quadratic Covid) Hassett and Bessent, I do not see corresponding instantaneous inflation (per Eeckhout, 2023) declining.
More By This Author:
Guessing NFP GrowthNegative Equity, and Other Things to Worry About
How Sensitive Is Economic Sentiment Respond To News?
How did you like this article? Let us know so we can better customize your reading experience.
Comments
Leave a comment to automatically be entered into
our contest to win a free Echo Show.
