CPI looms, Fed flags caution around future rate decisions - what's moving markets
Investing.com -- U.S. stock futures inch higher, as markets prepared for all-important September consumer price data that could influence how the Federal Reserve approaches future interest rate decisions. Minutes from the Fed's meeting last month showed caution among policymakers, although some officials are now wondering if a weeks-long surge in U.S. Treasury yields has tightened financial conditions for them.
Officials flagged that they were wrangling with two main risks: not tightening policy enough to curb elevated inflation and lifting rates to such a height that it impacts broader domestic economic activity. Officials have since suggested that this jump may now need to be considered ahead of any future rate choices. Indeed, at an event on Wednesday, Fed Governor Christopher Waller posited that the run-up in yields may have in effect done"some of the work" of tightening financial conditions for policymakers. Several other officials have echoed this sentiment throughout this week.
In a ballot among House Republicans on Wednesday, the Louisiana congressman beat House judiciary committee chair Jim Jordan by a tally of 113-99.
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