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Two things on the Fed’s mind are the core rate of inflation (all items excluding food and energy) and rent. Both have proven stubborn.
Despite constant talk of falling rent prices please note that Rent of primary residence has gone up at least 0.4 percent, every month for 23 straight months!
The falling rent meme has been wrong for at least a full year.
Author(s): Mike Shedlock
Publication Date: 12 July 2023
Publication Site: Mish Talk