Good post Diane.

This is core PCE, the Fed’s favorite inflation metric (until then inflation task says otherwise). It is color-coded to reflect the different expansions. Green=post 9/11 recovery Red=post Financial Crisis recovery Blue=post COVID recovery Also shown is the average and +\- 1 Standard Deviation range (shaded) for each period. —- From 2009 to 2021 (red) Core PCE exceeded 2% only 5 times, 3 in 2012 and 2 in 2018. The average inflation rate for this nearly 12 year period was 1.56% — via @biancoresearch

Core PCE, the Fed’s key inflation gauge, with historical recovery context and statistical bands.