-
Weekly Economic & Financial Commentary
From wellsfargo.bluematrix.com
After emerging from the post-pandemic trials of high inflation and rapid interest rate hikes, the economy is facing a new strain. This week’s economic data showcase how both sides of the Fed’s dual mandate are under pressure. First, the heat is rising on inflation. The headline Consumer Price Index (CPI) came in above expectations with a 0.4% uptick in August, amounting to a 2.9% year-over-year gain. This measure has steadily moved higher since bottoming at 2.3% in April. Fed watchers are attuned to core inflation, which rose 0.3% over the month and 3.1% year-over-year. Digging deeper, solid price growth for ... (full story)