There is Now a Problem with September Rate Hike Probability

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.