The Wall Street Journal reports that Alexandra Wilson-Elizondo of Goldman Sachs Asset Management stated that the market had previously prepared for strong inflation data, so today's slightly alleviating data was in line with expectations. However, this may be the best overall inflation reading we can see for some time, as the data may only partially reflect the full impact of the Iran conflict, which temporarily pushed U.S. crude oil and gasoline prices up by about 70%. She added, "The Federal Reserve has room to remain patient, and there are good reasons to do so. Today's data has bought the Fed some time, but the real test is still ahead."
The Wall Street Journal reports that Alexandra Wilson-Elizondo of Goldman Sachs Asset Management stated that the market had previously prepared for strong inflation data, so today's slightly alleviating data was in line with expectations. However, this may be the best overall inflation reading we can see for some time, as the data may only partially reflect the full impact of the Iran conflict, which temporarily pushed U.S. crude oil and gasoline prices up by about 70%. She added, "The Federal Reserve has room to remain patient, and there are good reasons to do so. Today's data has bought the Fed some time, but the real test is still ahead."