Janet, we have a problem…
CPI data is showing a 0.1% rise in consumer prices MoM, but now there’s this:
We have gone from consensus “hold” and a slight minority for hike, to consensus “hold” and a slight minority for cut!
This is coming fresh of the heels of Fed’s Neel Kashkari saying that 1.5% inflation is a REALLY BIG problem, and so is 2.5% inflation.
Janet, we have a problem.