Markets got hit by a triple whammy today. Fed Governor Waller spoke at 4 am (ET) in the UK and floated the possibility of a 50 basis point hike in December if the core CPI reading was 0.3 percent month-over-month or higher. Core CPI came in at 0.3 percent a few hours later and was followed shortly after by Dallas Fed President Logan who said at least two more hikes are needed and perhaps these should be sped up. This runs counter to what I think is happening at the Fed. My post from earlier today argues that a lot of the hawkish shift from the Fed in recent months was political and will now reverse after Republicans ... (full story)