John,
Unlike what grand-dad Joey Biden screamed at the State of The Union (SOTU) address, inflation is NOT been defeated. In fact, inflation has defeated Biden and The Federal Reserve. After January’s surprised upside shift, expectations have been adjusted up over the last month for another sizable MoM move in headline CPI. But that was not enough as the 0.4% MoM rise in the headline (as expected -- highest since August) lifted CPI YoY up to +3.2% (hotter than the 3.1% exp). Inflation remains hot, hot, hot although Biden/Yellen will undoubtedly say that it is lower than last year. But remember, consumer prices are up a staggering 19% under Bidenomics. THAT is a major tax of those making under $200,000 per year, Joey bumble-boy. Your 'new math' still really sucks, Joey.
— Clarice, Jacksonville, FL
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