Could he be on the job as “acting” head of bureau?

no

Core CPI ex rent rose 2.40% annualized in July, which was the second-fastest pace for that measure since September 2022. The fastest was January of this year.

The market doesn’t care currently.. I agree the overall inflation numbers are not that soft.

Market absolutely cared, 2y yields legged down 6 bps instantly.

Yeah that didn’t make sense to me either.

Here's the dovish spin. Excluding durables (tariffs) and rent (lagged/slow moving), core CPI rose 1.3% annualized in July.

Doesn’t feel as dovish as market is initially pricing. Plenty here to keep Fed on pause, if not for political reasons

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pardon my lack of knowledge, but what was with the big drop on 1/20?

It's not 1/20 it's 4/20. There was this thing called the COVID pandemic...

oh, that makes more sense. Thanks

The medical service jump is interesting. Preemptive repricing before the HR1 cuts hit?

Going to delete to avoid confusion then, sorry! Returning from mostly offline vacation and I didn’t realize this wasn’t one of the (surprisingly large number of) roles where Trump could just stick some hack in the position without confirmation.

I don't think the nomination has even been sent to the Senate yet.

Also he is going to be the boss and I legit do not think he seems to have the technical competence to do this.