Fed's Barkin: After Michigan survey, I felt it was possible to do 75 bps

I have some big problems with the main UMich consumer survey. The inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term expectations portion is separate but I wonder if the Fed should be relying on a private survey to be making huge policy decisions.

• Inflation is high and broad based
• I want positive forward looking real rates across the curve
• I'm also watching the demand side
• You have to be flexible
• Consumers are just determined to spend
• Our difficult task is there could be a couple of strong inflation readings interspersed with weak ones
• I ask myself if we have real rates where they need in order for them to have an impact on US economy

The final UMich survey is due on Friday. It would be funny if the final reading was back at 3% and the Fed panicked.

Another possibility is something like 2010, where expectations spiked for one-month end then went right back to 2.9-3.0%.