White House economic advisor Lael Brainard is on the wires saying that they see steady progress on inflation in the coming months.
Tomorrow the US CPI data will be released with expectations of 0.3% for both the headline and the core measure. The yarn year is expected to rise to 3.4% from 3.2% last month.
A year ago the month-to-month inflation reading was 0.1%. Hence the rise in the year on year that is expected tomorrow. Looking ahead to a month from now, the year ago level was 0.4%. So, there is a chance for a decline back lower next month. Nevertheless, numbers in the 0.2% area is the way toward 2.0%
Is Brainard trying to manage market expectations?
HMMM.