The US economy is poised to make an “immaculate soft landing” from the inflation crisis leaving the British economy behind.
Key US inflation data continued to cool while consumer spending picked up in June, adding to momentum in the economy ahead of the third quarter.
The personal consumption expenditures price increased 3pc compared to a year ago — the slowest pace in more than two years — figures from the Commerce Department showed.
One detail, core, which is what the Fed actually looks at, was 4.1% but still, that’s better than the previous 4.6%.
But how, or why, has the US achieved this?
Well, the Fed raised interest rates earlier, started doing QT earlier, has done more QT…..you know, all those things Spud has been insisting must not be done?