The administration’s recently proposed regulation for flexibly refilling the SPR is a welcome policy change with serious potential to deliver price and supply stabilization benefits.
Cars, Reopening, & Housing Drove American Inflation While Natural Gas Heated European Inflation: Disaggregating Differences in US-Europe Inflation
When we disaggregate the aggregate inflation statistics, we find that the sources of high inflation in the US and Europe are different.
July headline inflation is likely to come in roughly in line with the consensus forecast at 0.2% with the possibility of a mild downside surprise. Core inflation will likely be in line with forecasts as well at 0.5%, and is poised to cool further in coming months.
The long-term goal of energy policy should encompass more than just security and decarbonization: the goal should be to ensure energy capacity abundance and stable energy cost.
As was warned in our May CPI preview (Peak Inflation? Not So Fast, My Friend. Upside Surprises Loom Large), the "peak inflation" calls were likely to prove premature....