<p>A survey can show households expecting faster price increases without proving that headline or core PCE has already moved the same way. Michelle and Vox explain who produces the Michigan survey, how its inflation expectations differ from BEA’s PCE measures, and why markets can react to both for very different reasons.</p>

A survey can show households expecting faster price increases without proving that headline or core PCE has already moved the same way. Michelle and Vox explain who produces the Michigan survey, how its inflation expectations differ from BEA’s PCE measures, and why markets can react to both for very different reasons.

S1E27 - When Expected Inflation Is Not Actual Inflation

Thinking in Markets focuses on the structure behind global markets — time, liquidity, and the interaction between futures and cash sessions. From macro instruments like rates and FX to equities across Asia, Europe, and the U.S., each episode turns complex systems into simple, durable frameworks.

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S1E27 - When Expected Inflation Is Not Actual Inflation

S1E27 - When Expected Inflation Is Not Actual Inflation