My take from recent economic data is this: nothing. Inflation probably isn’t taking off; growth probably isn’t stalling; probably still on a glide path to a soft landing, although maybe a little slower than hoped.
I’m struggling with the stickiness of rents, especially if there is software to unofficially coordinate maximum prices, which might make it more resistant to outside pressures to cool. I haven’t seen the latest report though to know if rents are still driving some of the stubborn inflation reports