Rise in Core CPI Raises Risk Fed Opts for Larger Move
Dow Jones11-10 22:36
0936 ET - The stronger-than-expected 0.3% rise in the core CPI number in October was similar to September's in that it was very broad-based, a note from Capital Economics says. "This should all but confirm a December hike, with the strength of inflationary pressures in the last two months raising the risk that the Fed opts for a larger 50bp move rather than 25bp, as Waller has suggested could be a possibility in a hawkish speech today," the note says. Earlier Tuesday, Fed governor Christopher Waller said that if inflation comes in substantially higher than he expects, more robust action by the FOMC may be called for.
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