April is dense with data. Four releases and one Fed meeting will define the macro picture for Q2.
Not all data moves markets equally. And even less of it actually tells you where the economy is going...
The April CPI print covers March data — still tariff-affected, but less than February.
Two layers here:
— Goods inflation (tariff-driven): one-time price level shock, should fade
— Services inflation (housing, medical, education): structural, doesn't self-correct
The Fed's actual concern is core services ex-housing. If that number stays elevated, goods disinflation doesn't get them to the cut they want.
Two layers here:
— Goods inflation (tariff-driven): one-time price level shock, should fade
— Services inflation (housing, medical, education): structural, doesn't self-correct
The Fed's actual concern is core services ex-housing. If that number stays elevated, goods disinflation doesn't get them to the cut they want.