From: ScottW48@hotmail.com   
      
   Mention the government’s annual revisions to seasonal adjustment factors for   
   monthly inflation data and you’re likely to make eyes glaze over, even among   
   hardcore economics nerds. Not this year.   
      
   Economists on Wall Street and in Washington will be tuning in for this   
   year’s update, due Friday morning, because of what happened a year ago: The   
   revisions to the consumer price index — typically small and therefore   
   ignored — were large enough to    
   cast doubt on overall inflation progress.   
   Last year’s tweaks hit with a bang.    
      
   Initial readings had shown consumer prices excluding food and energy — an   
   important gauge of inflation’s underlying trend, closely watched by the Fed   
   — had risen by just 3.1% on an annualized basis in the final three months of   
   2022, down from 8% in    
   the same period of 2021.   
      
   That positive signal proved a head fake. After the revisions, the 3.1% was   
   recalculated at a meaningfully higher 4.3%. And four days later, core CPI for   
   January came in at an annualized 5.1%. Suddenly the tone around inflation, and   
   the outlook for rates,    
   had shifted.   
      
   Fast forward a year and Friday’s release is receiving an unusual amount of   
   attention, even as some economists are trying to tamp down the drama.   
      
   Bidenomics, nothing but bad drama.   
      
   ScottW   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)