Weekly Market Indicators, May 9
We may be seeing “peak inflation”, core decelerated more but both missed expectations. Government tax plans/demand subsidies could make the Fed’s job increasingly difficult.
Small businesses are struggling to keep up with prices but doing surprisingly better than they anticipated. SMBs still have access to loans and continue to maintain earnings but are having difficulty filling new roles.
PPI prices (input) and shipping costs easing which could be a leading indicator to team transitory and the Fed that the supply-side imbalance could work itself out soon.
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