The number: The fear for Bernanke was that CPI would come in really hot, but nope. Headline CPI was 0.1% and core was at 0.0%, both a bit lower than expectations.
Anyway, here’s the deflation that Ben Bernanke can fight.
The background: Yesterday we got a hot PPI number with headline inflation coming in at 0.4% and core at 0.1%.
For today we have headline expectations of 0.2% and core expectations of 0.1%.
Ben Bernanke is talking right now about fighting deflation.