Professor Glenn A. Okun
Today’s consumer price index provided disappointing news on inflation. CPI grew .4% month over month, meeting estimates. Core CPI increased .4%, exceeding the estimate of .3%. It grew 3.8% on a year over year basis, missing the 3.7% forecast. Energy and used car prices increased significantly.
This news does not support short-term action on interest rates by the Fed.
The Rabid Capitalist 
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