The Fed is having a tough time getting its own message across; you know the one that U.S rate normalization has begun. The Fed believes that market participants are caught behind the curve; by under pricing future Fed rate hikes. Later this morning, in this holiday shortened trading week, the market gets to chew on U.S inflation numbers. Perhaps today’s release may convince a few of the unconverted that when the Fed mentions a meeting is ‘live’ they may not just be paying lip service. Today’s release is important. Currently, with the U.S core inflation print already above the Fed’s desired target of +2%, coupled with ... (full story)