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The FED’s favorite inflation gauge last month said…
The Personal Consumption Expenditures Index (PCE) less food and energy which is the FED’s favorite inflation gauge came in at +.1% for April yet…yet…was at +2.5% year over year. For those watching that number, it is above the FED’s 2% inflation target meaning, in my opinion, no lowering of interest rates until that number goes lower.
On Wednesday, The Gross Domestic Product (GDP) number was -.3% for the first quarter. An increase in imports ahead of tariffs caused the decline.
Gold was -1.32% for the week, silver was -1.68% for the week, and the Dow Jones Industrial Average (DJIA) was up 1.60% for the week. Gold and silver holding above their 50 and 200-day moving averages. Not a lot of market movement with these economic numbers and the shorter holiday week.
Until next time…
