Markets celebrate better-than-expected inflation report but brace for economic updates from the Fed
Markets rose Wednesday as traders focus on three key pieces of economic news, including a better-than-expected inflation report, an announcement from the Federal Reserve about its rate moves, and fresh economic projections from the central bank.
Wednesday’s CPI showed that consumer prices rose 3.3% on an annualized basis, less than the 3.4% expected.
It’s the first time since July 2022 that CPI... moreMarkets celebrate better-than-expected inflation report but brace for economic updates from the Fed
Markets rose Wednesday as traders focus on three key pieces of economic news, including a better-than-expected inflation report, an announcement from the Federal Reserve about its rate moves, and fresh economic projections from the central bank.
Wednesday’s CPI showed that consumer prices rose 3.3% on an annualized basis, less than the 3.4% expected.
It’s the first time since July 2022 that CPI has not risen on a monthly basis and offers fresh hope for a Fed rate cut.
While Wall Street does not expect any rate move from the Fed when it releases its policy decision at 2 pm ET today, traders will be poring over the Fed’s quarterly economic projections for any hint about a revised timeline for rate cuts.
Stubborn price hikes have traders betting the first rate cut won’t come until September at the earliest.
