Issue 44 – The NY Fed’s November Snapshots of the U.S. Economy

A Snapshot of the Market for the Week Ended November 12, 2021:

The U.S. stock market finished the week on a high note. Despite Friday’s solid gains, they weren’t enough to erase the losses incurred at the beginning of the week, when the BLS reported devastating inflation numbers. The CPI was 6.2% higher than a year ago. Even without volatile items like food and energy, the index rose 4.6%. The last time we had numbers this high was in the early 1990s. The underlying inflation gauge dubbed UGI, which was created by the NY Fed, has been soaring since February and now stands at a record high of 4.3%. The UGI is an under-the-radar metric. It measures what is going on under the hood because it is defined as the persistent part of the common component of inflation.


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By Hubert Marleau

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By Hubert Marleau