And then second, how fast could inflation then recede or retreat or is inflation sticky because the PCE was at a three year high? Well, first of all, PCE today, month over month was 0.2, which was, we're looking at decimal points, but the estimate was 0.3. So one month doesn't a trend make. And what we've seen is actually oil prices are down about 10% in May. There are almost 2,000 ships waiting to come out of the Gulf. (04:48–04:56)
CLAIM
Asserts that the PCE was 0.2 month over month, below the estimate of 0.3.
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