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Inflation Surprise! Markets Swerve Wildly as Core CPI Rises at Fastest Pace Since 1982

The Breakdown

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Introduction

Today is inflation day and it will have a big impact on the Fed's thinking about November's rate hike. The minutes for the September FOMC meeting were released on Wednesday and showed the beginnings of concern over sustained interest rate hikes. This ultimately is perhaps the perfect demonstration of markets right now. It's one big Foxmolder desk sign that says I want to believe, despite the fact that there's just no evidence that the Fed is going to let up anytime soon.

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