CPI is out, and it came in hotter than expected. Headline was +0.4%, core +0.3%—both well above forecasts. Core has been stuck at 0.3% for three straight months, which annualizes to around 3.6%—nowhere near the 2% target.
Waller said earlier today that they could consider a 50bp hike if core hit 0.3%. And sure enough, core landed right at 0.3%—not a tenth higher or lower. It hit the mark exactly.
Bitcoin promptly fell below 74,000, and Nasdaq futures turned red. In other words, a December rate hike is all but certain. There’s just one question left—
Are you betting on 25bp or 50bp?
$BTC
Waller said earlier today that they could consider a 50bp hike if core hit 0.3%. And sure enough, core landed right at 0.3%—not a tenth higher or lower. It hit the mark exactly.
Bitcoin promptly fell below 74,000, and Nasdaq futures turned red. In other words, a December rate hike is all but certain. There’s just one question left—
Are you betting on 25bp or 50bp?
$BTC
