It sounds like the White House is softening us up for a high CPI number on Thursday

White House press secretary Karine Jean-Pierre comments, noting the remarks as we have CPI data due Thursday and these seem pertinent:

  • We have seen some important progress for the American people.
  • We’ve seen real disposable income and real consumer spending both increase.
  • Gas prices are down over $1 per gallon since their peak this summer.

How I read all this is summarised in the headline to this post. Sounds like:

  • I have good news and bad news, the good news is (the first three points), and the bad is the CPI number ….

It sounds suspiciously like the CPI number will be ugly …

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