Today's CPI finally threw out the window the notion that Jerry will cut 50 basis points next week. For the past month, I've been telling you that the "market" had to get past this idea and focus more upon the aftermath and press conference of next week's FOMC. Maybe now we finally can?
And it's not as if the CPI report was terrible. It was mostly in line with expectations. The "core" rate was a tick higher and the "supercore" (whatever that is) was higher, too....
