Steady Labor Indicators Expected to Allow Fed to Tackle Inflation
Dow Jones11-10 23:17
1017 ET - October inflation keeps the Fed on track for a hike. "There is no downward momentum in inflation, and some key services categories have picked up modestly in recent months," AllianceBernstein's Eric Winograd writes. Monthly CPI comes in at 0.4%, versus consensus of 0.3%. The data follows stable labor indicators. "With growth and the labor market both steady, the Fed is free to focus on the inflation side of its mandate," Winograd says. On CME's FedWatch tool, bets on an outsized half-point interest rate increase in December are priced in at 15%, versus 85% for a regular quarter-point hike.
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