Today’s focus … US CPI fireworks didn’t disappoint, 50bps nailed on so its over to you Jerome, Messi’s odyssey continues and is it France or Morocco?
Excellent analysis of the Fed and J. Powell.
Great commentary on the World Cup...
Love to see Morocco beat the French and Messi to ultimately win his 1st WC.
That would be a Hollywood ending.
But I guess the French will likely spoil all that...
When you state "His [Powell's] job got a whole lot tougher after yesterday’s number", I am curious what you mean by this? (Assuming it is not cutting rates in 2023.)
Nobody seems to be talking about the fact that even if inflation were to hit 1% by next October / November, that would still mean our prices are elevated. While cutting rates may be seen as a net benefit to the economy, it would not alleviate actual prices for consumers unless we start seeing deflation.