Breaking down the August CPI report, and the Fed hike it just triggered
Core inflation rose 0.3% in August against a 0.2% forecast, and the annual numbers landed exactly in line at 3.4% headline and 2.4% core. Going in, futures put a Fed hike next week at about 70%. Michael Reid of RBC Capital Markets argues the Fed should stay on hold, because inflation and debt are already squeezing consumers at the bottom of a K-shaped economy. George Catrambone of DWS says it gets forced into a hike whatever the data shows, and he said so before the number printed. Featuring: Julie Hyman, Host, Yahoo Finance Jake Conley, Breaking Business News Reporter, Yahoo Finance Michael…
