There were a couple of ways that the latest inflation data could have gone, and Friday’s result was clearly the most positive of the not-great potential outcomes. Following a hot quarterly inflation print on Thursday, investors learned from the monthly numbers that most of the heat came at the start of the year. Yesterday’s news, in other words. Still, it’s become clear that markets may have to brace for a few more months of disappointment, and that the data will probably keep the Federal Reserve’s policy rate at its current 5.25%-5.5% for most of 2024.
The Bureau of Economic Analysis ...
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