The tweet was deleted by the author.
But we saved everything 🙂.
Skanda Amarnath calls attention to a sharp uptick in the U.S. Producer Price Index, describing the release as "brutal." Amarnath highlights that the Federal Reserve's inflation measures are moving in an unfavorable direction, with core PCE now at 3.5 percent and headline inflation described as even more severe.
The data signals further concerns about inflationary pressures in the U.S. economy and raises questions about the effectiveness of current monetary policy.
Amarnath has previously suggested that rising and persistent inflation may require the Fed chair to reconsider macro tradeoff strategies. He also noted that temporary help service jobs have shifted from contraction to growth in recent quarters. The recent inflation data add to ongoing focus on labor and price pressures in the U.S. economy.