Eggs, And A Whole Lot More

2025-02-15 02:20:00 ET

Summary

• Every election cycle has its own peculiar trope at the center of the narrative. For the 2024 campaign, that thing was the price of eggs.
• The price of eggs today is roughly double what it was a year ago, and soared by 15 percent in the month of January alone.
• Non-food and energy services, in particular, have not come down at the rate the Fed was expecting to see a year ago.
• The seeming intractability of inflation alone would strongly suggest a continued pause by the Fed, with no rate cuts likely for the foreseeable future.

Every election cycle has its own peculiar trope at the center of the narrative, the very tangible thing that brings swirling abstract narratives into recognizably defined three-dimensional space....

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