Christmas comes early with cooler US inflation
The US CPI read came in lower than expected, further feeding the disinflation narrative says NAB’s Taylor Nugent. So, how will the FOMC react tomorrow?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 14th December 2022
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US CPI numbers came in lower than anticipated, leading to the inevitable question about whether inflation has peaked, just in time for tomorrow’s FOMC meeting? The market response was swift fall in two-year Treasury yields and a rise in equities, although much of those gains has been pared back since. NAB’s Taylor Nugent says it creates a challenge for Jerome Powell, who will want to acknowledge the good news but remind markets there is still a long way to go. So, perhaps, tomorrow, he will be the Grinch who stole Christmas.
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