Friedman Was Right, Just Mostly Misquoted...

Core PCE Rises Most In 3 Years; Savings Rate Tumbles As Spending Far Outpaces Income The Fed's favorite inflation indicator - Core PCE - rose 0.3% MoM in January (as expected), a dip from the 0.4% sequential increase in February, with YoY rising by 3.2% (also as expected), slightly higher than the 3.0% in Feb. That is the highest annual increase in Core PCE since Nov 2023.  The headline PCE jumped notably more, as expected since it includes non-core items like energy and food, rising 0.7% MoM (as expected) driving prices up...

An Israeli airstrike killed the son of Hamas’s chief negotiator in Gaza on Wednesday.  Reuters reported that Azzam Al-Hayya, son of Khalil Al-Hayya, had been killed. The Israeli strike on Gaza City killed at least one other Palestinian. Azzam is the fourth son of Hayya killed by Israeli strikes since 2008.  May 7 (Reuters) – […]

Trump Says Hormuz To Reopen Friday After Signing Of "Great Peace Deal" With Iran Summary Trump Says Hormuz Chokepoint Reopens Friday Pakistan PM Confirms Peace Deal, with a signing event in Switzerland next Friday Trump Confirms US-Iran Peace Deal "Now Complete" and says "Let The Oil Flow"  Iran's president issues pro-MoU signing statement as Tehran is boasting of great and solid results for its side. There are reports this includes a significant release of billions in its frozen assets in the West. White House still suggesting an electronic MoU deal to be signed with Iran on...