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Fed Blessed With Favorable CPI Report. Rate Hikes Seen Finished
Consumer prices in the US rose less than expected last month, this week's marquee macro release showed.
The core price gauge posted a 0.2% MoM increase, cooler than the 0.3% consensus expected.
The headline, all-items index was unchanged in October from September.
Plainly, the downside surprise was a welcome development. There's tension between the market's assumption that the Fed is done raising rates and the Committee's insistence that another hike is still very much on the table in the e
This is why we need WEEKLY dot plots!
Well, I’m not obese, thanks to diet and exercise, but I will, occasionally polish off a bag of powdered donuts with a glass of milk. It’s my “crack”. The other two “P’s” I can do without.
The pop tarts etc stickiness price comment is A+++ and a Biden 2024 killer. Lowe’s Foods in Pittsboro, NC $1-3 an item more expensive than Walmuerto in Chapel Hill, just 12 miles away. Competition vs none….I can’t see how most people feed their kids. Pop tarts aren’t cheap.
I guess they just fly places and stay in hotels. And buy used cars to stay in. Save lotsa money that way.
Moving “Fed is done raising” from almost certain to all but certain is worth +440bp on RUT and +180bp on SP50?
Adding this one to my cynical wisdom vault.
“When taken in conjunction with record home prices and onerous mortgage rates, the American dream of eating yourself to death on a small piece of property you’ll own outright in just 30 years is drifting further and further out of reach.”
It’s nice to be able to laugh once in a while in the middle of a long cry. I’m glad I’m old enough not to likely countenance the time when the American dream morphs into not starving to death while homeless.