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US financial stability trumps near-term inflation
Headline US CPI rose 0.4% month-on-month in February, as expected, but core (ex food and energy) was up 0.5%, versus the 0.4% consensus. As a result, the annual rate of headline inflation slows to 6% from 6.4% while the annual rate of core inflation moderates to 5.5% from 5.6%. On the face of it this supports the case for a Federal Reserve rate hike next week (we are up to about 19bp priced now), but that is still contingent on market calm. Financial stability risks always trump near-term inflation worries. The details show shelter costs remain elevated, rising 0.8% MoM while airline fares jumped 6.4%, recreation ... (full story)
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- Posted: Mar 14, 2023 10:55am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 1,417
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