Yikes! The latest ISM data have produced a stagflation chart.
Yikes! The latest ISM data have produced a stagflation chart. New orders, a gauge of future economic activity, are down, while prices paid, an indicator for #inflation, are up!
While new orders have been pretty volatile and may still be in an uptrend, prices paid rising to a multi-year high complicates things, including the Fed's ambition to lower rates.
The US economy is going to a rough patch, which Trump and Bessent have decided to blame on Biden.

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