Core PCE inflation rose 4.7% in January YoY, beating expectation of 4.4% increase. The Fed-preferred price index rose 0.6% MoM compared to the market expectation of 0.5%.
Branko Milanovic discusses whether the study of inequality can be considered as part of macroeconomics and how should macroeconomists incorporate his idea of Kuznets Waves into their models.