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- US politicians show reluctance in resolving debt ceiling, impacting global liquidity and markets.
- US inflation report signals a downward trend with core services decline, retail gasoline prices, and used cars influencing rates.
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US Inflation Trends and Impact of Core Components
The latest US inflation report highlights a significant decline in core services ex housing, a component closely monitored by Powell. This segment has seen a rapid decrease down to around 4% annually from a previous 8%, indicating a trend that Powell was deeply concerned about. Even though core services ex housing only makes up a portion of the CPI basket, central bankers prioritize these sub-components, reflecting a general downward trend in inflation pressures.
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