US Bond Market Week In Review: There Is An Inherent Weakness In The PCE Price Deflator That The Fed Isn't Considering
September 18, 2017 at 10:47 AM EDT
Durable goods prices have been subtracting from price growth for the last 20 years. Non-durable goods prices have been declining since 2011-201. It’s literally impossible for the Fed to hit its 2% Y/Y PCE price target.
