Maybe it’s just me but to me this looks like it’s still decelerating, as it was before the tax hikes and spending cuts, which are still ongoing.

So I still see downside risk here?

But, of course, bad news for the economy is good news for stock prices for as long as markets think QE supports equity prices.

PCE Y/Y:


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Core PCE Y/Y:


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Personal Income Y/Y:


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