-
Risk of Big US Inflation Revision Puts Policymakers, Investors on Edge
Mention the government’s annual revisions to seasonal adjustment factors for monthly inflation data and you’re likely to make eyes glaze over, even among hardcore economics nerds. Not this year. Economists on Wall Street and in Washington will be tuning in for this year’s update, due Friday morning, because of what happened a year ago: The revisions to the consumer price index — typically small and therefore ignored — were large enough to cast doubt on overall inflation progress. A year later — with Federal Reserve officials anxiously seeking more evidence they’ve tamed price pressures before committing ... (full story)