Today's CPI report came in much hotter than expected and it has sent some markets reeling as prospects for future fed funds rate cuts are dimming. Curiously, though, the Comex PMs bounced nicely after an initial plunge.
We might as well start with that CPI. Not only did it come in hotter than expected, it came in significantly hotter across the board and in all categories. Will this latest data make Jerry rethink the wisdom of goosing the economy markets with that 50 basis point cut back in September?...
