Pre-War Inflation Was Heating Up | S3 E137 | 04-09-26
Was inflation already becoming a bigger problem before the war with Iran? In today’s Markets with Megan, Megan Horneman breaks down the latest personal income, spending, and core PCE inflation data to show what the economy looked like before the latest geopolitical shock hit energy markets.
The takeaway: inflation was already proving sticky, and consumers were already feeling the squeeze.
In this episode, Megan covers:
Why real personal spending has been muted for months
What falling income and a lower savings rate may signal for the consumer
Why core PCE remains well above the Fed’s 2% target
How higher auto and transportation costs could feed into future inflation data
Why March and April data may show even more pressure from tariffs and commodities
What this could mean for second-quarter growth and the consumer outlook
Even before the full effects of rising oil and broader war-related disruptions show up in the data, the economy was already showing signs of strain.
Subscribe for more market updates from Megan Horneman and the Verdence team.
📺 Watch more here: https://marketswithmegan.fm
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