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SPXN - The CPI Overshoot Is A Statistical Artifact
ProShares S&P 500 Ex-Financials
2024-02-13 23:25:00 ET
Summary
The January CPI overshot expectations by 0.1% and the stock market had convulsions.
If it weren't for shelter costs, which now comprise 25% of the CPI, the year-over-year change in the CPI would have been 1.6%, well below the Fed's target.
Over the next 9 months, it is highly likely that shelter costs will fall by more than half, thus subtracting significantly from reported CPI.
The January CPI overshot expectations by 0.1% and the stock market had convulsions. It's absurd....