MSNBC Morning Joe June 4, 2024 10:39:00
Won't get into the weeds, but it's the dark line here. this headline includes food and energy, which has driven a lot of the inflation during the past cycle. when you take food and energy out, which is what the fed and most economists do, what we call core has not been as inflationary, but the pce, again, is sitting at 4.8%. we're going to get a new pc number on friday. the hope is 4.2%. that'd be really great. that's one of the things the fed is watching, to get down to the 2% level. it wants to be at 2% before it really starts cutting interest rates. the biggest driver of inflation is wages....