...paving the way for a Powell vs Trump dogfight over rates...

...paving the way for a Powell vs Trump dogfight over rates ahead.

Shocking stat of the day:

US CPI inflation is on track to hit 4.6% over the next 6 months, according to Bank of America.

CPI inflation has averaged +0.4% on a month-over-month basis over the last 3 months.

If this trend continues, this puts year-over-year inflation on pace to hit 4.6% by July, the highest since April 2023.

That would be more than DOUBLE the Fed’s 2% inflation target.

Even if monthly inflation prints ease to 0.3%, year-over-year inflation would still rise to 3.8%.

Inflation is accelerating.

https://x.com/KobeissiLetter/status/1893815626918998356