Uh-oh! January Personal Consumption Expenditures Soar 1.8% MoM, PCE Deflator UP 5.4% YoY, 2-year Treasury Yield Rises 10 Basis Points (Here Comes The Fed!)

Confounded Interest ^ | 02/24/2023 | Anthony B. Sanders

[Kaiser8408a]

Not really a surprise, but January’s personal spending numbers came in hot at 1.8% MoM. Also, Personal Consumption Expenditures PRICE index (aka, inflation) rose to 5.4% YoY.

Here comes The Fed! The 2-year Treasury yield rose 10 basis points this morning.

Pelsoi and Schumer (with McConnell) got the gold mine and American consumers got the shaft.

[Kaiser8408a]

Biden and The Fed. The Two Stooges.

[SaveFerris]

Dow Jones -442 right now

[AbolishCSEU]

They will spin this as “consumer confidence” not factoring in the inflation.

[9YearLurker]

442 sounds like a lot, but it is less than 1.5%.

[AndyJackson]

and sounds like exploding GDP and jobs growth to me. Clearly the numbers need more upward correcting since we all know staticstics lie. /s

[Myrddin]

My wife and I have considerably reduced our spending. Food is the dominant cost now. There is room to drop that as well.

[Karoo]

Just looking at the state of USA with war, open borders, China, Biden et al, etc etc etc....I am concerned about my situation re income, food cost, surviving.

I wonder what USA will be like in two yrs. Not good I fear

[minnesota_bound]

#6 My wife and I have considerably reduced our spending. Food is the dominant cost now. There is room to drop that as well.

Be careful you don’t say to your wife that she needs to go on a diet to save money.... : )

[stevio]

I take it you tried?

[minnesota_bound]

[Myrddin]

Be careful you don’t say to your wife that she needs to go on a diet to save money.... : )

Actually, my wife is a type 1 diabetic and is perpetually trying to diet to offset the consequences of stuffing insulin in via her pump. Her doctor offered her Ozempic to see if that would help. It seems to slow the dumping of the stomach contents to create the sense of being full without adding glucose to the blood. There is a downside. My wife is accustomed to punching in an estimate of carbs to be consumed to her insulin pump before a meal. That happens relatively quickly. The Ozempic is delaying the stomach dump putting her at risk with a low blood glucose and no means of fixing it with oral intake of glucose. We're evaluating how to get the advantage of Ozempic without the danger of an unfixable low glucose. The dieting effort is actually more expensive than saving money by eating less.

[SaveFerris]

Same here

[citizen]

Happy wife....happy life.

[citizen]

I use the Oz, am type II. It does cut the appetite.