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Inflation Report Could Test Warsh’s Tough Talk
Kevin Warsh has talked tough on inflation, but this week’s CPI report could determine whether markets believe the new Fed chair is willing to back that message with action.
Mike Armstrong and Paul Lane preview the July inflation report, why even a modest monthly reading could still leave inflation well above the Fed’s target, and how Warsh’s credibility may be tested heading into the September Fed meeting. They also discuss why restoring normal traffic through the Strait of Hormuz remains so difficult, how limited shipping through the region is keeping pressure on oil markets, and why the…
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