Matthew boesler bloomberg biography
Find Matthew Boesler of Bloomberg News's articles, email address, contact information, Twitter and more..
Burned all my notebooks, what good are notebooks?
Fed finds new reason for confidence in obscure inflation gauge
Top Federal Reserve officials - including Chair Jerome Powell - are increasingly pointing to an obscure price gauge as a reason to maintain confidence in their outlook: “market-based” inflation.
The metric excludes a range of services where data-collectors can’t directly measure prices and have to estimate them instead.
The result is a different inflation picture in recent months. Whereas the central bank’s preferred underlying inflation gauge accelerated to % in November, the market-based measure has been more or less flat at % since May.
The distinction is significant amid an upswing in Treasury yields as investors have soured on the chances of Fed interest-rate cuts in While US central bankers have signaled they need to see more progress toward their 2% target before they reduce borrowing costs again, repeated nods to the alternative gauge could indicate a lower bar to additional easing.
Fed Governor Christopher