2min chapter

Bloomberg Surveillance cover image

Surveillance: March CPI Sets Stage for Fed

Bloomberg Surveillance

CHAPTER

The Market's Reaction to the Inflation Report

Core CPI came in line with expectations. The market cheering and actually now expecting even greater rate cuts in the next 12 months. I think Jonathan Farrow said this in a couple of contexts, maybe more around payroll. Be careful about the initial market reaction as to whether or not that's the longer run message.

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