You know, around here we beat the Fed up pretty good; and rightly
so. But the FRED (Federal Reserve Economic Data) website is top notch
and I just love going there and rummaging around.
Not only do they have nominal data graphs but you can ratio disparate
data to come up with your own analysis, as I did recently with the
London Gold Fix divided by the Monetary Base. More people should get
used to doing their own work instead of listening to the talking heads
all over the internet, and know-it-all bloggers too for that matter.
Work will set you free.
The links to FRED are over on the right side bar of the main page,
including a handy graphic that updates CPI, Unemployment, 10 Year
Yields, GDP, Industrial Production and Payrolls. It’s really cool,
although the Fed does not (yet) allow for creating your own widget with
your own desired data. If it did, I’d be all about the money supply and
other things that tattle on the Fed and its operations. But it’s all
there on the site anyway, so do consider becoming acquainted with it if
you have not done so yet.
So here’s the latest BASE update:
It is still in consolidation but I have highlighted the little tick
higher after QE3, which was still encumbered with Op/Twist. The latest
data show a tick higher still.
A new inflationary phase would have to start somewhere and breaking this consolidation would be a good start.