Inflation Alert!

Looks like the inflation rollercoaster is back on its upward climb! 📈

Wolf Richter at Wolf Street reports that the Fed started cutting rates SIX MONTHS AGO 🤦‍♀️... right when inflation was hitting its low point and was about to resurge. 🤦‍♂️

Key takeaways:
* Core PCE price index jumped the most in 13 months! 🚀
* Recreational services are seeing a HUGE spike! 🎢 Consumers are spending! 💰
* Durable goods are no longer in deflation - prices are rising! ⬆️

The data doesn't lie:
* 6-month core PCE up to 3.1% annualized - the biggest jump since June 2024! 😲
* Recreational services up a whopping 12.6% annualized month-to-month! 🤯

Was the Fed's rate cut timing a misstep? 🤔 It seems inflation had already bottomed out and was starting to accelerate. 😬