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MNI US Inflation Insight, Sep'23: Strong Core Keeps Hike Alive

MNI US Inflation Insight, Sep'23: Strong Core Keeps Hike Alive

MNI US Inflation Insight, Sep'23: Strong Core Keeps Hike Alive

EXECUTIVE SUMMARY

  • September CPI was stronger than expected, including across key core measures.
  • While as usual there were some “noisy” factors involved, even “supercore” measures are showing signs of a nascent slowdown in disinflationary progress.
  • Markets reacted decisively and accordingly, with higher implied probability of an additional Fed hike in the cycle, and fewer cuts next year.
  • While the FOMC is unlikely to take action on November 1, this data alongside the strong September employment report could renew doubts on the Committee that tightening is done.

PLEASE FIND THE FULL REPORT HERE:

USInflationInsightOct2023.pdf




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