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All I Want for Christmas is Two: An Ode to Target Inflation and Mariah Carey


BGO's The Chief Economist, Ryan Severino, CFA channeled his inner-Mariah Carey to pen his remix to the holiday classic, “All I Want For Christmas.”

 

I don’t want a lot for Christmas

There is just one thing I need.

And I promise that I’ll share it

This wish does not come from greed

I just want inflation low

More than you could ever know

Make my wish come true

All I want for Christmas Is Two

(Percent)

 

I don’t want a lot for Christmas

There is just one thing I need (and I)

know that it is not easy

On this point I will concede

I don’t need expensive housing

Taking up more of our pay

Yet consumers are still splurging

On their gifts for Christmas Day

Shoppers would feel full of cheer

If low prices could appear

Make my wish come true

All I want for Christmas is two

Two, percent

 

Oh, I won't ask for much this Christmas

I won't even wish for snow (and I)

Just want to keep inflation

At target, or just below

I won’t beg for rate reductions

Or a bailout from the Fed

I won't even read the minutes

To see what Chair Powell just said

'Cause I just want it here today

But tax cuts might get in the way

What more can I do?

Oh, baby, all I want for Christmas is two

Two, percent

 

Oh-oh, CPI’s still rising, so pricey everywhere (so pricey, baby)

And with wage growth slowing, it seems so unfair (oh, oh, yeah)

The stock market is booming (oh, yeah)

Although tariffs are looming.

Santa, won't you bring me the thing I really need? (Yeah, oh)

Won't you bring low inflation to me?

 

Oh, I don't want a lot for Christmas

I don’t even need high growth

Or robust productivity

Even though we could get both

I just want inflation low

More than you could ever know

Make my wish come true

Oh, baby, all I want for Christmas is two

Two, percent

 

All I want for Christmas is two, percent

All I want for Christmas is two, percent

All I want for Christmas is two, percent

All I want for Christmas (all I really want) is two, percent

All I want (I want) for Christmas (all I really want) is two, percent

 

CRN: 2024-1218-12187 R


This commentary is for informational purposes only. All investments are subject to risk and past performance is no guarantee of future results. Please see the Disclosures webpage for additional risk information at commentary-disclosures. For additional commentary or financial resources, please visit www.aamlive.com.

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