Wall Street is worried that yet another high reading on the Consumer Price Index will prompt another massive interest rate increase and inflict more pain on markets and the US economy. But this full-steam-ahead approach by the Fed, based on the notion that iron-clad data is protection enough, has given some economists pause. Last week’s nonfarm payroll report roiled markets, but job openings have now fallen by 1.8 million since their March peak. The IMF believes that global inflation will peak late this year, but will “remain elevated for longer than previously expected,” even as central banks work aggressively to bring it under control. ▸ The Consumer Price Index, a closely watched measures of inflation in the US is due to be released on Thursday.

Source: CNN October 12, 2022 19:57 UTC