Monthly US inflation for October came in hotter than expected at both the headline and core levels: 0.4% (versus the consensus forecast of 0.3%) and 0.3% (versus 0.2%), respectively. Especially following Governor Waller’s latest comments, you can set aside any debate over whether the Fed will hike by 25 basis points or pause next month; the conversation will center on 25 bps versus 50 bps. (For what it is worth, I am in the 25 bps camp regarding what the Fed will ultimately do.) #economy #markets #federalreserve #inflation
Mohamed A. El-ErianShare
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