What The US CPI Report Means For Fed Policy

Like every other monthly inflation update out of the world's largest economy, Tuesday's US CPI report was billed as "all-important." Headed in, "whispers" about an upside surprise and rampant speculation about the potential for a core beat to amplify the hawkish policy read-through from a spate of hot US macro data had market participants on edge. My initial assessment was that the figures, while hardly encouraging, didn't necessarily live up to the billing. The curve appeared to settle on a b