Parker Ross
@Econ_Parker
Global Chief Economist @ ACGL | ex JPM AIG HUD | Husband to Jamie; Dad to Landon, Greyson & Logan | No investment advice & views are my own ๐ฆฌ๐บ๐ธ๐ฎ๐ฑ
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Supercore CPI jumped 0.51% m/m in August, which is getting plenty of attention this morning and sent Sept rate hike odds surging briefly to ~100%.
But itโs worth looking under the hood: 29bps (more than half of the 0.51% increase) came from wireless phone services alone.
Unless the Fed plans to hike rates to get your cell phone bill under control, Iโd be careful reading too much into the spike.
A quick ๐งต
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