Purchases of goods and services, unadjusted for changes in prices, increased 1.3% following a 0.6% gain in September, Commerce Department figures showed Wednesday.
On the income side, Private worker wages rise to match all time high at 8.4% Y/Y, Government worker wages drop to 11.0%, the lowest since March 2021
All of which means the Personal Savings Rate tumbled back to pre-COVID levels: 7.3% in Oct. was 7.6% in Jan…
Finally, and perhaps most importantly, The Fed’s favorite inflation indicator – Core PCE Deflator – which jumped to its highest since 1991 (and headline PCE rose 5.0% YoY)…
Get back to work Mr.Powell!
Wed, 11/24/2021 – 10:08
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Author: Tyler Durden