John Authers. The Cleveland Fed’s trimmed mean. Justin Fox: The Myth of the Rational Market.

The Cleveland Fed’s trimmed mean (stripping out the greatest outliers in either direction) is stuck above 2% and is moving in the wrong direction.

Try my colleague Justin Fox’s revised and re-released The Myth of the Rational Market.

https://www.amazon.com/dp/0060598999?lv=shuf&channelId=500&plpRedirect=mhFallback

This is my review of the book from 2009, before we were colleagues. 

https://www.ft.com/content/08bc21d8-5395-11de-be08-00144feabdc0

John Authers Bloomberg 15 October 2026

https://www.bloomberg.com/opinion/newsletters/2026-10-15/hot-inflation-isn-t-playing-along-with-trump


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