🇺🇸 US CPI came in hotter than expected. 📈


3.8% YoY vs 3.7% expected.
Core CPI: 2.8% vs 2.7% expected.
Cost-push inflation is starting to show up more clearly now, and markets are reacting accordingly. ⚠️
The “rate cuts fix everything” narrative just got a little messier. 👀
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