Keep pulling the thread on United Kingdom.
High CPI and PPI data, combined with rising freight costs, indicate that there will be additional upward pressure on U.S. consumer inflation in the coming months.
Few people expect the Strait of Hormuz to be open for oil transit before the end of May, and it will likely remain closed well into the summer.
The Guest asserts that the first priority for incoming Federal Reserve Chair Kevin Warsh should be to shift the central bank away from its easing bias, which has been in place since late 2023.
Core PCE inflation is expected to rise and likely come in around 3.3%.
According to recent CPI data, U.S. wage growth was outpaced by inflation for the first time in three years.
Real average hourly earnings in the U.S. were negative in the most recent month.
The President took unprecedented actions against the Federal Reserve, including firing a governor and initiating a criminal investigation.
Political dynamics within the UK government are having a carryover effect on the long-end of the U.S. bond market.
The President's motivation for replacing Jay Powell as Federal Reserve Chair was to install a leader who would pursue an easing bias.
U.S. consumer inflation expectations have jumped much higher, and consumers are resigned to the belief that prices will not decrease.
Lower-income U.S. consumers are increasingly using credit and drawing down their savings to manage expenses.
Strong U.S. retail sales are being driven by high-income consumers, indicating a K-shaped economic recovery.