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1 week ago

LARRY KUDLOW: 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 percent in April, the PPI eased to 0.6 percent 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. Real average hourly earnings rose 0.8 percent in June. That’s the best monthly real wage gain in 11 years, excluding the pandemic. Wall Street i...