🇺🇸 US CPI just came in at 3.8%, highest since May 2023!


Core CPI came in at 2.8%, the highest level in 8 months.
Both numbers came in above expectations, yet markets barely reacted.
The CME FedWatch Tool is now showing a higher probability of a rate hike rather than a rate cut at the upcoming FOMC meeting.
8 months ago, everyone was debating how many cuts we’d get in 2026.
Powell called this trap on his last day as Fed Chair and the data just proved him right.
Kevin Warsh is expected to become the new Fed Chair this week.
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