With inflation in excess of 5% in each of the last 5 months, two measures would have been helpful for the Fed and investors in prior months. To be sure, they should influence Fed and investor decisions going forward.
They include
- Center for Financial Stability (CFS) Divisia M4-,
- Global inflation diffusion indexes that analyze price and expectation signals in 49 countries.
To view the two measures:
https://centerforfinancialstability.org/research/Measures_Fed_110221.pdf
We look forward to any comments you might have.