A quick summary on last 20 minutes.
ECB hiked 75 bps, signalled further hikes. Direct quote, their words: "Inflation remains far too high and will stay above the target for an extended period. In September, euro area inflation reached 9.9%". In other words, ECB might do another 75 bps next meeting.
US data: GDP obviously beat expectation. Core PCE, the Fed's preferred gauge for inflation measured, came in at 4.5%. In otherr words, a good excuse for Fed to slow down if they want to. PCE price index dipped to 4.2%, another excuse for Fed if they want to.
Long term, I see ECB hike into 3% by Q1 '23, and Fed to 4.5%. Now, let's go over to ECB presser. You can watch on CNBC and Bloomberg TV.
ECB hiked 75 bps, signalled further hikes. Direct quote, their words: "Inflation remains far too high and will stay above the target for an extended period. In September, euro area inflation reached 9.9%". In other words, ECB might do another 75 bps next meeting.
US data: GDP obviously beat expectation. Core PCE, the Fed's preferred gauge for inflation measured, came in at 4.5%. In otherr words, a good excuse for Fed to slow down if they want to. PCE price index dipped to 4.2%, another excuse for Fed if they want to.
Long term, I see ECB hike into 3% by Q1 '23, and Fed to 4.5%. Now, let's go over to ECB presser. You can watch on CNBC and Bloomberg TV.
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