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Goldman Cuts Rate Hike Odds After 5th Consecutive Inflation Miss

The Fed is becoming increasingly trapped: despite the FOMC’s “best intentions” to telegraph that the economy is improving with the unemployment rate at a paltry 4.3% – because otherwise it clearly wouldn’t be hiking, right – CPI has now missed consensus estimates for 5 consecutive months, and what worse, the biggest historical driver of inflation in recent years, shelter and rent inflation, appears to have peaked and is now declining. Worse, wage inflation is nowhere to be found, much as one would expect from a bartender and waiter-led “recovery.”

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