Wrapping my head around why anyone thinks Fed pivot: employment cost index came in at 5.0%, core PCE 5.1% – both accelerated m/m.
— Stephanie Link (@Stephanie_Link) October 30, 2022
66% of American workers are worse off financially than a year ago due to inflation, per CNBC.
— unusual_whales (@unusual_whales) October 30, 2022
The big question heading into the Fed meeting is about what, if anything, Powell will say about December.
Economists say that is in part because of some ambiguity over the Fed's reaction function around any step down to 50 bps—even if the estimated terminal rate is rising. https://t.co/5H64CSUxvd
— Nick Timiraos (@NickTimiraos) October 29, 2022