Obviously one datapoint doesn’t actually prove anything in either direction, but it is interesting to note that these beats came with owner’s equivalent rent rising just 0.1% on the month-- despite a booming housing market in many parts of the country. Apparel and transportation were two of the more notable monthly gainers, but in a sense they are just correcting their Covid drops from earlier in the year.
Ultimately, these figures shouldn’t really change anything for financial markets yet, but at this point it’s not clear that the Fed needs to throw any more QE at the problem.
Ultimately, these figures shouldn’t really change anything for financial markets yet, but at this point it’s not clear that the Fed needs to throw any more QE at the problem.