CPI Inflation data for May, which is scheduled for release on Thursday will take centre stage this week – especially after April’s CPI reading showed the largest monthly gain in core inflation since 2008 with CPI jumping a sizzling 4.2% from a year earlier.
So far this year, the Fed has remained adamant that inflation will run hotter than its traditional 2% goal, as the global economy continues to rebound from the pandemic-induced recession.
Federal Reserve officials have also dismissed surging inflation as being only ‘temporary’. However traders are unconvinced and are questioning whether the Fed has unleashed a beast that they can no longer control.
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