Still no Phillpsy-Curve
New data shows continued weak inflation in US, Europe
Euro zone core CPI came in below consensus estimates at 0.9% year-on-year (vs. a 1.0% estimate). US PCE inflation, the Fed’s preferred measure, came in at 1.4%, at the bottom of its five-year range.
You can-a fool me: There ain’t-a no Phillipsy-Curve.