r-tard posting "core CPI 2.4%, lowest in 5 years, bullish 🚀"
Read the actual report:
Core CPI +0.3% m/m (hotter than expected)
Headline 3.4% y/y, +0.4% m/m
Gasoline +3.9%, over a third of the monthly increase
Brent above $105
The annual number is falling. The monthly momentum isn't.
Fed funds futures now price ~69% odds of a HIKE next week. A month ago that was 40%.
This isn't a "cuts are coming" print. It's a "Warsh has cover to tighten" print.
on Fed Decision in September? — No change
