Look at that beautiful yield curve.

JPow! continues to post W's

You have to wonder if JPow! knew this was coming all along. Consumer inflation has basically been at target for 16 months. But, as the CEA analysis suggests (in my previous post), this might be the first quarter without supply-chain related inflation.

I would have impatiently kept monetary policy looser or loosened it sooner. But JPow! somehow just keeps hitting the bullseye.

On the housing front, as EHT readers know, residential completions have continued at a pre-Covid pace…