This is a syndicated repost published with the permission of Snake Hole Lounge. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
The Fed’s Open Market Committee meeting is just around the corner (December 13) and the last core inflation report has been released. Core Personal Consumption Expenditures (Core PCE YoY) rose from 1.36% to 1.44%, well below The Fed’s 2% target rate.
Personal spending cooled in October from 1% to 0.3% while personal income remained the same.
The implied probability (WIRP) of a December 13th rate hike is 98.3%, however.
I think this is Fed Chair Janet Yellen opining on inflation growth: “Meh.”