A report just issued by the Bureau of Labor Statistics (the B.S. BLS), showed very tame inflation at the consumer level. Specifically, the consumer price index came in at a seasonally adjusted 0.2% for the month and 2.7% on a 12-month basis. That’s lower than expectations — once again, the economists are actually “economisseds.”  They flounder in an econo-“mist.”

Stock index futures are already rallying, but where is President Trump’s Truth Social post (maybe it will come before this sees the light of day)?  What’s taking him so long?  Prepping for Putin?  I could use a good laugh this morning, and few things amuse more than when Trump calls on “too late” to reduce interest rates. Not to worry — President Trump never disappoints.  His “too late” pressure campaign continues as he’s now threatening a lawsuit over the Fed’s renovation costs.

The president is actually being gracious, for “too late” is only mildly insulting — there are more pejorative terms that capture Fed Chair Jerome Powell’s utter incompetence.  Actually, I guess he has called him angry and stupid.  That’s appropriate, for stupid is as stupid does.

The dour and pedantic pinhead immerses himself in Fed Reserve comfort and splendor; meanwhile he’s helping to eviscerate the American Dream by keeping rates preposterously high.  Real interest rates are very high, largely due to the Fed’s monetary policy decisions; even Japan with its higher inflation lowered rates. This is discouraging to young Americans especially, who are giving up on owning a home.

Someone who is not stupid is the newly nominated BLS chief E.J. Antoni.  I’ve seen him, and he’s very sharp.  There will be no more B.S. at the BLS, that’s for sure.  As President Trump just stated in a post, E.J. will ensure the numbers released are “honest and accurate.”  Now for a new Fed Chair….

Image from Grok.