This is an interesting piece from Reuters on a New York Federal Reserve report on an in-house inflation model. This is the Multivariate Core Trend (MCT) model:

  • The January MCT reading stood at 4.9%, up from December’s upwardly revised 4.8%, which had initially been reported at 3.7% a month ago.
  • The January MCT reading "provides a quite different narrative for the recent dynamics of inflation persistence relative to what we had prior to the new release," New York Fed economists wrote.

(bolding above is mine).

Here is the Reuters link for more detail.

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Thursday US time market moves show persistent worries about imminent Fed moves:

European Central Bank Chief Economist Lane is speaking as part of a panel at 1350 GMT:

NY Fed head Williams and Chair Powell