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"Nothing Here To Convince Fed To Hike In November": Wall Street Reacts To Today's US CPI
There are two diverging views following today's CPI print: the first looks at the hotter headline inflation (which beat expectations on both a MoM and YoY basis) and argues that the Fed will have to hike at least once more. The second counters by pointing to the continued slowdown in supercore inflation... chart and notes that excluding shelter, which as we noted continues to lag real-time data by 12 months at a time when rents are now dropping. CPI and its stale data: "The shelter index increased 7.2 percent over the last year, accounting for over 70% of the total increase in all items less food and ... (full story)
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