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The most recent #USCPI data release for August showed that #inflation continues to be a major issue for the U.S. economy. This changed the probability of a larger #Fed funds interest rate increase at the Fed’s meeting next week, and it also increases the probability of ‘larger’ increases at future meetings. Before the CPI data release on Tuesday the market was somewhat split between whether the Fed would increase interest rates by a further 50 basis points or by 75 basis points, after the inflation report the conversation has changed to whether the Fed will increase by 75 basis points or 100 basis points. Furthermore, the stopping point of the current tightening cycle seems higher than before – some are calling for the Fed funds rate to reach more than 4.5% before the Fed pauses.
Stephen Flood’s interview on the Capital Club podcast: https://news.goldcore.com/what-problem-does-gold-solve/
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