The Most Critical Number In The World Or Mountain Out Of A Molehill?

There are two ways you can look at this CPI print which is being billed as the most important data point of 2018 so far. On one hand, it's definitely critical and it makes sense that everyone would be obsessing over it because look what happened after that AHE beat earlier this month. One "wrong" move on the inflation front in an environment where expansionary fiscal policy, an unfunded tax cut, Fed balance sheet rundown, and jitters about foreign demand in the face of increased Treasury supply