US January core PCE +5.2% y/y vs +5.1% expected

• Prior was +4.9% y/y
• Core m/m +0.5% vs +0.5% expected
• Prior core m/m +0.4%
• PCE price index +0.6% m/m vs +0.4% prior
• PCE price index +6.1% y/y vs +5.8% prior

Consumers spending and income for January:

• Personal income 0.0% vs -0.3% expected.
• Personal spending +2.1% vs +1.5% expected.
• Real personal spending +1.5% vs -1.0% prior

The omicron variant skewed some numbers in January and further tightened some supply chains but it didn't slow down the consumer. Spending was strong and price hikes were pushed through. Some of that is via energy as gasoline prices rose in the month but overall this looks like an economy that can tolerate rate hikes. The Fed's Waller was talking about a 50 bps rate hike earlier today and 6.1% y/y inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term won't dissuade him.