Powell: Inflation Is Uncertain and the Forecasts Lack Conviction
Diesel Fuel Prices Surge Toward Levels Seen in the Last Two Inflation Shocks
The Fed’s Favorite Inflation Measure Leapfrogs the CPI
San Francisco Fed’s Daly: AI’s Future Is Job Augmentation and Creation, Not Destruction
Core Inflation Softens, but the Final Mile to 2% Remains Sticky
Notwithstanding a pullback the past two days, cotton prices have been on a tear lately, recently surpassing $1 per pound for the first time since the 1990s. From various news reports, it appears that the surge is due to recent floods in Pakistan coupled with unusually strong demand in China and elsewhere for cotton fiber and yarn. It will be interesting to see whether textile producers and clothing retailers can pass along higher prices to consumers.
Dr. Duru