As I sit here and look at this picture while I contemplate what to write about on Pi Day, I look through the data released today and only one thing stands out: PPI. The Producer Price Index (which is a gauge of measuring inflation at the wholesale level) released this morning shows a decline of -0.1%, less than the gain of +0.2% that was expected by the brains running Wall Street (who probably have the formula that is inscribed on this photo of an actual pie memorized). That equates to a year-over-year decline of over 3% less, and is grounds for the Federal Reserve to keep printing money to buy bonds to keep rates low. Now go eat some pie.
