The widely anticipated PCE came out, and, in spite of being concocted by the very government which is dependent on the number being low, it actually came in hot. Indeed, over the past four months, I think I’m sensing a bit of a trend.
| December 2024 | +.1% |
| January 2025 | +.2% |
| February 2025 | +.3% |
| March 2025 | +.4% |
I guess the “I Will Fix Inflation on Day One” pledge has gone the way of all the other Day One pledges, eh? One thing is for sure: they will simply call this The Biden Inflation and be done with it.
I am ashamed (a little) to say I slept through the damned thing. There are many excellent reasons to be up in the middle of the night, but honestly, I haven’t had a solid night’s sleep for an entire month, although I’ve got a great excuse.
How relieved I was when, upon waking at exactly the opening bell, I saw lots of red instead of green. I treated myself to hanging out in bed for 15 minutes, then I finally headed to the office where I should have been since 5 a.m. and was greeted with almost entire bearish position getting clobbered.
Having said that, I hope you’re doing well, and I’d better get my trading day started. I’ll be back soon!
