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Federal Reserve Chair Janet Yellen kept saying that 2% inflation was just around the corner, then recently proclaimed that 2% inflation might not be attained for 2 years.
Core inflation for August fell to 1.3% YoY while MoM core inflation fell 0.1%. Both below expectations.
Core PCE Prices YoY are the lowest since 2015.
Real personal spending fell -0.1% MoM, in line with expectations.
Want more than 2% inflation YoY? Try adding some home prices!!! Like the FHFA Purchase-only home price index YoY which is growing at 6.25% YoY.
Here is Fed Chair Janet Yellen preparing for her next career as a fortune teller.