π Macro Mondays by @michaelrinko π Monday, September 19th
Synopsis:
Stonks have gotten crushed. This latest round of pain has been driven by the disappointing August CPI print, which the market has taken as an indication that the Fed will not pivot anytime soon.
π§΅π
While year-over-year inflation decreased slightly in August, headline inflation rose 0.1% and βcoreβ inflation rose 0.6% month-over-month
This latest print caught many investors offside, as evidenced by the painful decline in global stonk indices on the day of the print (9/13). As Shakespeare once said βexpectation is the root of all heartache.β
The question now is *how* hawkish Jerome Powell will be during his FOMC presser on Wednesday. The market currently expects a 75bp hike, but traders will be listening for any dovish hints of a future pivot.
Keep reading πΏ:
momentum6.substack.com/p/macro-mondays-more-powell-pain-or
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