The tweet was deleted by the author.
But we saved everything 🙂.
Nick Timiraos, chief economics correspondent at Wall Street Journal, reports that PCE inflation stood at 3.5% in March, marking the highest reading since May 2023.
Core PCE inflation was recorded at 3.2%, its highest since November 2023, a period when the Federal Reserve maintained a policy bias toward further rate increases.
Earlier this year, Nick Timiraos reported that Kevin Warsh told the Senate that Fed independence is largely determined by the Federal Reserve itself and that inflation control remains its core responsibility, according to a prior hearing. Warsh has also advocated for broad reforms at the Fed, including improvements to economic analysis and public communication, as detailed in recent coverage. These developments follow ongoing scrutiny of the central bank’s policy approach.