Looming Stagflationary Shock Under The Biden Admin

The bottom line: while a sharp slowdown in growth would have been just the "bad news is good news" the market was desperately hoping for, throw in the unexpected surge in prices and suddenly the threat of a full-blown stagflationary shock is once again front and center... at least until tomorrow, when we wouldn't put it past this admin to come out with another fabricated core PCE print which makes no sense and somehow comes in well below the 0.3% MoM estimate