BREAKING 🚨


US PCE inflation just came in at 4.1%, exactly in line with expectations and the hottest reading since April 2023.
This is the Fed's preferred inflation gauge, and at 4.1% it is now running at more than double the Fed's 2% target.
That is the number that quietly locks the door on rate cuts. With inflation reaccelerating like this, the Fed's next move is a hike, not a cut, which is exactly what the dot plot started pricing in this month.
The strange part? Markets are green today anyway, because Micron's blowout AI earnings are drowning out the inflation print. For now.
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