CPI data released this morning by the Bureau of Labor Statistics showed a rise of 4% compared to last year. The numbers look good, thanks to lower oil and food prices. Core CPI (excluding food and energy prices) also decline but is still stubbornly above 5%. In any case, the numbers met estimates so this makes it interesting for FOMC's rate hike decision due tomorrow. Popular bet is that Feds might (as opposed to certain) pause rate hike this month and could resume the rate hike next month or later. Remans to be seen. All three major US indices are in the green this morning (PST).
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