CJ Update – June 17, 2022
Mission Accomplished For the Fed: A Slowing Economy A component of last Friday’s inflation report came in higher than we had expected. The CPI headline number increased to its highest level in 40 years. However, that was only part of the story. The core inflation rate, excluding food and energy prices, actually posted a downtick for the third consecutive month. That was matched this week by a third straight downtick in wholesale price growth as expressed by the core PPI…