🔥 US September CPI Data Could Shake Markets: Upside Risks in Focus! 📈
The upcoming US September Consumer Price Index (CPI) data release, set for next Thursday, may signal persistent inflation, especially in the core CPI, which could influence the Federal Reserve's decisions. According to PANews, business purchase prices have risen at the fastest pace in six months, according to the preliminary S&P Global Purchasing Managers' Index. 📊 While the ISM manufacturing survey showed a decline, the non-manufacturing report confirmed increasing price pressures. 💡
If the CPI data points to stubborn inflation, investors may expect the Fed to continue with its plan to cut interest rates by 25 basis points in both the November and December meetings. 💸
Jim Baird, Chief Investment Officer at Plante Moran Financial Advisors, noted that the September employment report was exactly what the Federal Reserve needed, reflecting labor market resilience despite weak employment data over the summer. Fed Chairman Jerome Powell has expressed the importance of maintaining labor market strength, which is why the Fed cut interest rates by 50 basis points last month due to earlier signs of slowing hiring and rising unemployment. 📉
The coming CPI data will be closely watched by markets, as it could set the tone for future monetary policy and keep investors on their toes. 👀 Keep an eye on this, as the numbers may change the g
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