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

The Breakdown

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Is There Anything That Wall Street Is Watching For?

St. Louis Fed President James Bullard has become the go-to guy for hints of a Fed pivot among Wall Street analysts. From March, Bullard consistently advocated for jumbo hikes to centing on the decision to only move rates by 25 bips. In 2021, while Chairman Powell was pushing the narrative of transitory inflation, Bullard represented the lone voice out of the Fed warning him the need to get moving with rate hikes.

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