IwasRetired

I discuss how to manage an unexpected retirement, based on lessons learned in the past 10 years. This is a DIY retirement. Follow my YouTube channel!

[IwasRetired @IwasRetired]

Social Security cut of 22%? Read the report. If no action is taken until then, benefits will be cut nearly 30% without some form of tax increase. And cuts would continue through 2100.

[CRR Boston College @RetirementRsrch]

7️⃣ Common Misconceptions About Retirement Planning – New on @SquaredAwayBC

From Social Security financing to long-term care to the $1 million savings goal, these myths may drive people toward suboptimal retirement choices.

🔗 https://t.co/aHTO9zjG3Q

[IwasRetired @IwasRetired]

PCE explained, with a mention of those task forces and why we should all just chill a bit...

https://t.co/pv2yH7pkgf

[Liz Thomas @LizThomasStrat]

PCE rose to 4.1% y/y in May, its highest since April 2023. Nondurable goods (i.e. energy) were the primary reason, but there was an uptick in services as well.

[Charlie Bilello @charliebilello]

The Fed's preferred measure of inflation (Core PCE) moved up to 3.4% in May, the highest level since October 2023.

This was the 63rd consecutive reading above the Fed's 2% target level.

"We've missed for 5 years. And we're gonna fix that." - Kevin Warsh last week

[Mohamed A. El-Erian @elerianm]

Please find below a Bloomberg table summarizing this morning's US data releases.
Three considerations from my end:
Monthly PCE inflation, the Federal Reserve's favorite measure, came in line (core) to somewhat softer (headline) than the consensus forecasts. This brought annual headline inflation to multi-year highs -- 4.1% for headline and 3.4% for core.
The monthly data should help moderate rate hike expectations, despite what remains strong economic activity data.
It would not surprise me if this May PCE inflation data or June's ends up being the peak for this cycle -- especially at the headline level.
#economy #inflation #markets

[The Kobeissi Letter @KobeissiLetter]

BREAKING: US May PCE inflation, the Fed's preferred inflation metric, rises to 4.1%, the highest reading since April 2023.

Core PCE inflation rose to 3.4%, its highest since October 2023.

US inflation is now officially running at more than double the Fed's 2.0% target.

[IwasRetired @IwasRetired]

I expect the FOMC will wait to see what numbers look like in September, when they may -- or may not -- share another Dot Plot.

[IwasRetired @IwasRetired]

Both PCE and CPI Headline topped 4%, and Fed Funds rate still topping out at 3.75%. Many will call for hikes in July. However, all of these inflation indications are now as stale as that gas can left open for a week in the back shed.

[IwasRetired @IwasRetired]

The collective wisdom of the FOMC already think the Fed Funds rate should finish the year at 3.8% a little higher than where we are.

[IwasRetired @IwasRetired]

In my first decade, this is one of those retirement rules of thumb that I found were "all thumbs." Strategic withdrawals while waiting for 70 sometimes exceeded 4%. https://t.co/hjm1dT9UTd

[The Wall Street Journal @WSJ]

The 4% rule, a decades-old guide for retirement withdrawals, is too rigid and has blind spots, writes Peter Coy. https://t.co/0D1B6rB7S6

[IwasRetired @IwasRetired]

@nypost Oh, I thought they were celebrating the win over Iraq...

[Liz Ann Sonders @LizAnnSonders]

I had the privilege of crossing paths with #AlanGreenspan many times over the past 20 years. Few people have shaped the vocabulary of markets the way he did, even when (especially when) no one was quite sure what he’d just said. I have the @NewYorker cartoon below hanging in my office. He was a true original. Rest in peace.

[IwasRetired @IwasRetired]

Did anyone else wonder who the other FOMC member to decline to put a dot in 2028? See my video on what this all means to a DIY retiree: https://t.co/0O1WZQRsBJ

[IwasRetired @IwasRetired]

No 'hanging chad' videos here... Let's just wait them out and pick our winner.

[New York Post @nypost]

Shocking image shows the insane reality of LA's mayoral election https://t.co/TVjL9fNVct

[IwasRetired @IwasRetired]

Kevin Warsh, the Dot Plot, and Boldin Inflation Settings: I explain What Dot Means for DIY Retirees
https://t.co/0O1WZQQUMb

[IwasRetired @IwasRetired]

The Dot Plot? Chair Kevin Warsh didn't play, but who was the other FOMC participant who declined to submit a dot for 2028? Could it have been now Gov. Powell? Latest video looks at what "Dot" means for a DIY retiree:
https://t.co/0O1WZQQUMb

[IwasRetired @IwasRetired]

Well, no one saw it coming because they were looking backwards.

[IwasRetired @IwasRetired]

Fed Warsh era kicks off with big surprise no one saw coming https://t.co/EATRSNlRpr

[IwasRetired @IwasRetired]

The Dot Plot? Chair Kevin Warsh didn't play, but who was the other FOMC participant who declined to submit a dot for 2028? Could it have been now Gov. Powell? Latest video looks at what "Dot" means for a DIY retiree:
https://t.co/0O1WZQQUMb