The Donald seems to be continuing his bombing campaign, albeit this time by pivoting back to the home front and taking aim at “Too Late” Jay.
As usual, Trump has his facts all wrong about who has had how many rate cuts and that inflation has miraculously disappeared since January 20th. In fact, if anything, inflation has bottomed at an unsustainably high 3.0% level. Indeed, since March 2023, the annualized monthly change in our trusty 16% trimmed mean CPI has cycled between 2.5% and 4.0% with no indication that a return to the Fed-mandated 2.0% lane is imminent.
But at least this time the Donald is attacking the right target. The truth is…
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