# PCE

Record Streak, Frozen Homes?
The world's most powerful central bank just lost a 62-month staring contest with its own target — and the housing market next door is quietly rewriting the affordability playbook while nobody was watching. These two forces are pulling on every risk asset from equities to crypto, and the connection is tighter than most traders realize.
🔹 #PCE inflation has burned above the Federal Reserve's 2% line since April 2021 — 62 consecutive months and counting, the longest overshoot since the target was formally adopted in 2012. Headline PCE clocked 3.5% year-over-year in M

MU delivered outstanding results last night.
Q3 revenue $41.46B (market estimate $35.84B), adjusted EPS $25.11 (estimate $20.78), gross margin 84.9%. Q4 guidance is even more aggressive—revenue $50B±1B, gross margin ~86%, EPS $31. It surged 15% in after-hours, now steady around +5%.
The most critical part is those 16 long-term agreements, locking in volumes for 3–5 years with financial commitments of $22 billion. The CEO said, "I put half my life into these LTAs"—meaning MU’s $1.28 trillion valuation logic has shifted from "cyclical stock" to "AI infrastructure," and the story has completely c