Michael McKee

speaker
1,104 appearances 197 recordings 2 series first heard Aug 2025 last heard 6d ago

Michael McKee’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
40 · Jan OctJan 26AprJulnow

Recordings per month over the last 12 months — 194 in all, peaking in Jan 2026 with 40.

Appearances

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THE FED IS GOING TO BE LOOKING AT, GOODS PRICES WERE DOWN A
4.2 percent is the inflation rate for the last 12 months in the headline cpi that's exactly what was anticipated the month over month for the headline is up half a percent as anticipated for the core it is a two-tenths gain and for the year-over-year number it is 2.9 percent bloomberg
Now, we can look at the numbers overall and see that for goods and services.
Now, this is the kind of breakdown the Fed's going to be looking at.
Goods prices were down a tenth of a percent if you take out food and energy and service prices were up three tenths.
Also a blowout number for April, revised up significantly to 179,000.
So over the last three months, the moving average is 188,000.
That is strong by any measure, especially at a time when people think the breakeven rate is about 50,000.
172,000 jobs were created in the month of May.
That is significantly higher than last month's number, although actually we're revised down a little bit, 179.
The 115 from last month revised up to 179.
the personal savings rate dropped significantly to 2.6 percent.
So it does show people were going into their savings to keep up the level of spending.
And so that, along with the drop in the overall spending rate, portends maybe a consumer slowdown ahead.
We're looking at PCE inflation up four-tenths of a percent, a tick lower than what had been expected on a year-over-year basis.
That still puts us at 3.8 percent, up from 3.5 percent.
And remember, the headline PCE is the Fed's 2 percent target.
Core PCE up two-tenths of a percent, a little bit less also than expected.
And that puts us at 3.3 percent, the expected figure up from 3.2 percent in March.
So more inflation on a year-over-year basis.
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