Including HICP and nowcasted PCE deflator.
Figure 1: Instantaneous inflation per Eeckhout (2023) for CPI (blue), chained CPI (red), HICP (green), PCE deflater (bold black), PCE market-facing deflator (pink). Chained CPI and HICP seasonally adjusted by author using X-13. PCE deflator for October based on nowcast of 11/19. Source: BLS, BEA, European Commission via FRED, Cleveland Fed, and author’s calculations.
Lutnick has been nominated to head Commerce, which kinda suggests Bessent at Treasury. Could been worse. Very likely Bessent would turn his govern job into gazillions upon his exit, but what else is new?
Lutnick, already a real billionaire, may not want money as much as power and status. That said, Trump’s first Commerce Secretary probably enriched himself through the commission of felonies while in office.
“Lutnick has been nominated to head Commerce”
Well, there goes NOAA and the National Weather Service, with assets sold off and privatized. Trump won’t need his Sharpie anymore to get the weather he wants.
Elections have consequences.
and that will have consequences on home insurance. deductibles are function of named tropical storms. so who now has that authorization? elections do have consequences.