Kelly Evans: Sticky inflation [CNBC]
Piper Sandler Companies (PIPR)
Last piper sandler companies earnings: 5/1 08:04 am
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Source: CNBC
The Fed's target is 2%. Granted, CPI runs a bit hotter than their preferred inflation gauge, but we're still nowhere near target right now. In fact, core inflation has been heating up. Core CPI is running 3.6% annualized over the past three months. And with the labor market still doing okay, there's little reason to expect broad “slack” to return and pull prices down across the economy. Stickiness in rents and other areas is also still persistent. Grocery prices, as Piper Sandler's Nancy Lazar points out, are now up 28% since Covid. Ouch. In fact, Lazar's gauge of “needs” inflation (think medical care, rent, daycare, phone and internet bills) is still running a hot 4.7% year-on-year, versus just a 1% gain in her “wants” basket, comprised of more discretionary purchases. Which would explain why consumers are still feeling squeezed even as the overall economy has held up better than feared. This all raises the question of whether the Federal Reserve is actually going to cut rates
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PIPR
Earnings
- 10/25/24 - Beat
PIPR
Sec Filings
- 11/8/24 - Form 4
- 11/8/24 - Form 4
- 11/7/24 - Form 144
- PIPR's page on the SEC website