Inflation the way the Fed wanted it
Thursday 12th August 2021US CPI eased in July. NAB’s David de Garis says it was helped by less pressure on used car prices and airline fares, whilst food prices remain elevated. It means the Fed can focus on reaching their employment target, whatever that target is. In a speech overnight Raphael Bostic suggested it wasn’t just about hitting full employment, it was also about fixing the inequality brought about by the pandemic. Meanwhile, the market is sold on the idea of tapering starting sometime in the next few months. At home, consumer confidence fell, but optimism is greater amongst those…
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