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In the week ending May 11, the advance figure for seasonally adjusted initial claims was 222,000, a decrease of 10,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 231,000 to 232,000. The 4-week moving average was 217,750, an increase of 2,500 from the previous week's revised average. The previous week's ...
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Here are some things I think I am thinking about this week: 1) CPI comes in soft: Wednesday’s CPI report was a big relief for the Fed after 4 consecutive upside surprises. The key metric was core CPI which came in at 3.62% year over year vs last month’s rate of 3.8%. This continues the clear downward trajectory that was so dominant last year. There were ...