On Bloomberg’s Thursday broadcast of “Balance of Power,” Heather Boushey, a member of the White House Council of Economic Advisers, said March PPI inflation data: It marked the highest level in almost a year., “allayed” concerns following the CPI report, asserting that “this economy continues to serve the American people,” adding, “It’s clear that we’ve been on a path to lower prices over time, and inflation has slowed. It’s coming,” he claimed. I think we continue to stay on that trajectory. Admittedly, it’s been a little slow lately. ”
“As the president pointed out, we have brought inflation down significantly, down 60%,” Boushey said. And the economy continues to grow at a healthy pace. Last Friday there were more than 300,000 jobs. I got the March edition. We see this economy continue to benefit the American people, and the president continues to work to ensure that costs for families are lower, even as he focuses on growing the economy from moderate to moderate. There is. ”
asked co-host Joe Mathews.[T]This morning, let’s talk about PPI data. Everyone seems at least a little relieved after the anomaly that followed yesterday’s CPI. As long as this is a forward-looking indicator, what does it tell us about the trajectory of the price?”
Mr. Boushey replied: “Certainly, when we got the CPI data yesterday, it was higher than expected. It was the same rate as February. So it’s kind of like, oh, the inflation that we all want. It felt like we’re not seeing a decline in that. But certainly, I think today’s news will ease that feeling a little bit. It confuses the forecast, so to speak. There’s more hot stuff coming. If you had, you might think the trajectory has changed. But I think it’s clear that we’ve been on this path of lowering prices over time, and inflation is falling, and we continue to I think we’re on that trajectory. It’s certainly slowed down a little bit lately. But, of course, the current inflation rate is down to the 3% range, far below the peak levels of high inflation. It has fallen below.”
to follow Ian Hanchett’s Twitter @Ian Hanchett
