Yesterday’s US consumer inflation data for June surprised analysts with a hotter-than-expected report. The news has convinced the market that the Federal Reserve will ramp up the pace of rate hikes to a 100-basis-point increase at the July 27 FOMC meeting. Peak inflation, it seems, remains elusive as ever. Perhaps, but there are still some hints that turning point is near. The question is how much weight to assign to these relatively encouraging hints?
Daily Archives: July 14, 2022
Macro Briefing: 14 July 2022
* A glimmer of hope emerges that Ukraine grain exports can resume
* Fund funds futures estimate high probability for 100-basis-point rate hike
* Fed Beige Book highlights concerns about price increases
* Major US crypto lender Celsius Network files for bankruptcy
* Atlanta Fed business inflation expectations survey is stable at +3.7% for July
* Rents in US rise at fastest pace since 1986
* US headline consumer inflation continues to accelerate for annual rate:
