Fed Hawk Down
Someone go check on the health of the Fed hawks. The wind has been taken from beneath their wings.
The benign inflation report released Wednesday confirms earlier data suggesting there is no need for a rate hike from the Federal Reserve later this year.
The consumer price index climbed 0.1 percent in July compared with June. That followed the prior month’s 0.4 percent decline. Although the year-over-year rise in CPI is still uncomfortably high at 3.4 percent, this was the second month in a row in which it headed down. The three-month annualized rate is now just 0.5 percent. Even with the personal consumption expenditure index unusually...
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