Fed’s Preferred Inflation Gauge Hits Target For First Time In 5 Years

Is this why the ‘data dependent’ Fed is suddenly so keen to hike rates?

For the first time since April 2012, The Fed’s preferred inflation indicator – the so-called Personal Consumption Expenditure Deflator – has topped 2% (The Fed’s mandated goal).
So unless The Dow drops by more than 3%, The Fed will keep hiking based on this ‘data’, no matter what the rest of the economy is doing.

This post was published at Zero Hedge on Mar 31, 2017.