CPI - Obama-Era CEA President On August Inflation Data: 'I Feel A Bit Worse Than I Did Yesterday' | Benzinga
Prominent economist and Obama-era Chair of the Council of Economic Advisers Jason Furman, in a recent tweet thread, shared his analysis of inflation patterns and the potential implications for the Federal Reserve’s future decisions.
What Happened: Furman, in his posts on X, formerly Twitter, on Tuesday, discussed the August inflation data, suggesting that the core services excluding shelter, which the Federal Reserve tracks, saw a significant rise.
He further touched upon the average hourly earnings trend relative to the pre-pandemic period and emphasized that the data he discussed was mostly about inflation within August. However, he cautioned against reading too much into one month’s data.
We had 2 consecutive unqualifiedly good CPI reports. I was hoping for a 3rd but this one is only qualifiedly good. Not a huge concern but some.
I'm focused on core ...