In related news, Upstart stock (which is interest rate sensitive) has slowly risen from $12 to $35.
IMO, the news services highlight the wrong fact.
I prefer (from the news): Consumer prices rose 0.1% in May… that gives a better picture of what’s happening now in the index. The TTM number has too much history.
He is no fool who gives what he cannot keep to gain what he cannot lose.
Bottom line, inflation is easing and Fed is likely to pause on interest rates.
I hope that’s true, but I fear Powell is determined to bring the plane in for a steeper landing. Especially with billions about to be extracted from the consumer economy (student debt payments resume) I would think a pause would be appropriate, but I’m mistrustful.