Has Goldilocks returned?

Once again Wall Street was surprised by a deflationary wholesale price report where the level of the so-called producer price index actually dropped by three-tenths of a percent. And it’s worth noting that after rising 1.1% in April, the PPI eased to 0.6% in May. And then the outright decline of three-tenths in June. This follows yesterday’s deflationary CPI report. Both are a welcome relief from the inflationary reports of recent months.

With NEC Dir Kevin Hassett, Laura Ingraham, WH Official Peter Navarro, Ben Ferguson, Ben Domench, and Sen Tim Sheehy