US: UMich Inflation Expectations Unexpectedly Jumped In October

tweet at 10:03am: FED'S GEORGE:ONLY PIECE OF CLEAR DATA IS THAT WE HAVE HIGH INFLATION tweet at 10:03am: THE FED'S GEORGE: TODAY'S ECONOMIC LANDSCAPE IS ESPECIALLY MURKY. tweet at 10:05am: FED'S GEORGE: THERE IS NO CLEAR NARRATIVE ON GROWTH PROSPECTS. tweet at 10:07am: Fed’s George: - We Are Operating in a Tight Economy - Broad-Based Nature of Inflation Is Worrisome - Am Watching if Persistently High Inflation Seeps Into Expectations - If It Does, Trade Offs Become More Costly tweet at 10:11am: Fed’s George: - Faster Supply Growth Unlikely to Take Care of Inflation Problem - Supply Could Be Slow in Helping US on Inflation Front - Recent US Producivity Performance Has Been ‘Abysmal’ - Financial Conditions Have Tightened Considerably This Year, but Clear More to Be Done

tweet at 10:21am: Fed’s Daly: - Mindful About Making Sure Inflation Doesn’t Become Embedded - We’ll Stop Raising Rates When Appropriate, and Then Will Hold It for A While - We Can Correct Our Course if Needed - 4.5%-5% Is Most Likely Top Fed Funds Rate, Then Will Hold It There tweet at 10:22am: FED'S DALY: THE FED'S SUMMARY OF ECONOMIC PROJECTIONS IS NOT OUT OF DATE. IT IS AN EXCELLENT POLICY GUIDE. tweet at 10:23am: FED'S DALY: US DOMESTIC DATA STRONGLY SUGGESTS FURTHER RATE HIKES. tweet at 10:24am: FED'S DALY: WE NEED TO SLOW GDP GROWTH SUBSTANTIALLY tweet at 10:25am: FED'S DALY: IF NECESSARY, WE CAN ALTER OUR COURSE.

tweet at 10:34am: FED'S COOK: LABOR MARKET IS VERY STRONG tweet at 10:37am: Fed’s Cook: - Labor Market Is Very Strong - Inflation Remains Stubbornly and Unaccepatbly High - Core Inflation Has Been Surprisingly Strong - Bottlenecks Easing, Ex-Gas Prices Still Rising Rapidly - Broad Inflation Pressures Suggest Economy Is Very Tight tweet at 10:39am: FED'S COOK: NEED ONGOING RATE HIKES #News #Forex tweet at 10:43am: Fed’s Cook: - At Some Point, Appropriate to Slow Pace of Rate Hikes - It Is Always a Balancing Act With the Fed’s Dual Mandate - Fed’s Rate Increases Aimed to Do Something Now so We Don’t Have To Do More Later - Don’t Want Stop And Go Policy - We Are Committed to Price Stability