🚨US inflation rate is FALLING as expected and there is more to come:
US CPI Core Inflation dropped to 3.1% in February, the lowest in 4 YEARS. Supercore CPI fell to 3.9%, the lowest since October 2023 (driven by Airfares). All metrics came below forecasts. Expect more progress as economy slows. Source: zerohedge
Musk’s cuts fail to stop US federal spending hitting new record...
In February the US budget deficit was BIGGER than ALL TAX REVENUE. Can it be ever be fixed? Source: zerohedge
What a club...
Most of the billionaires who attended Donald Trump’s 2017 inauguration have since seen substantial financial losses, with none taking a bigger hit than Elon Musk, who has lost a staggering $148 billion. Source: Visual Capitalist
The Interest Expense on US National Debt rose to a record $1.178 trillion in the last 12 months, an increase of 142% over the past 4 years.
The US Government now spends more money on interest than it does on National Defense. Source: Charlie Bilello
Markets start to be leaning towards this idea...
Source: Damaan, AKA "Philly's Finest"! @Damaan4u33
DOGE has had no impact
Deficit in 2025 is bigger than 2024, 2023… Source: The Long View @HayekAndKeynes
February inflation data is out…
• PPI 3.2% YoY, (Est. 3.3%) • PPI 0% MoM, (Est. 0.3%) • PPI Core 3.4% YoY, (Est. 3.5%) • PPI Core -0.1% MoM, (Est. 0.3%)
Bonds don't love the cooler-than-expected February CPI report
Weakness in airfares may not show up in the PCE, the Fed's preferred gauge, which pulls that price data from the PPI And still-firmer goods prices could lead to core PCE, for a change, running higher than core CPI Source: Nick Timiraos @NickTimiraos
