Back in green

The inflation report for thr month of April was better than expected at 2.3% YoY. Economists were anticipating a rise due to tariffs, but so far that has not happened. Core inflation grew 2.78% YoY. We’re gettting close to that 2% level that is considered healthy, at least by Powell, and that will allow the Fed to lower rates. The probability of rate cuts has not moved much, and if anything we might get some action by September. After all the noise on tariffs and liberations, the S&P500 is back in green for the year, while we wait for the approval from Congress on the President’s tax plan. We still need to tackle the budget deficit problem and the debt problem. While we are “distracted” with trade, the 30 year Treasury bond is printing a new high on its yield, the highest one in 18 years. We’re running out of time to manage this problem when it’s still relatively manageable.

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