Rich Diaz

personal consumption expenditure.

Anyways, they just make up these baskets, basically.

And then they're saying there's discussion.

There's a reason for it.

So they're saying there's a high probability that they could just decide that their new preferred measure is to target trimmed mean inflation or median CPI.

Basically, assuming if they were to go to trimmed mean inflation,

That would actually put them back into their inflation target range and allow them to actually cut rates into what is already a higher inflationary environment.

So I just find it interesting, Keith, like you hear all of these baskets and confusing words to measure inflation.

There's like eight different baskets in the US.

Oh, there's more than that, pal.

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