US: Slower inflation, but still disappointing – Wells Fargo – by MSalordFX Inflation UnitedStates Banks
Data released on Tuesday showed inflation in the US rose above expectations in August, boosting the US dollar across the board. According to analysts at Wells Fargo, a 50 basius points rate hike at next week's FOMC meeting now seems like a distant pipe dream, with a 75 bps rate hike now all but assured.increased 0.1% in August, but the modest gain for the headline index masked what was a disappointing report. Gasoline prices fell 10.
“We think the road to returning inflation to target is still a long one, and we continue to look for the FOMC to press ahead with another 75 bps point hike at its meeting next week.” If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.