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📊 What Does May CPI Mean for Next Week's Fed Meeting?According to Nick Timiraos of The Wall Street Journal—often referred to as the Fed's unofficial spokesperson—the latest CPI report does little to settle the debate ahead of next week's FOMC meeting.
🔸 Core CPI rose just 0.2% MoM, below expectations of 0.3%. However, a single softer inflation reading is unlikely to change the Fed's stance, especially with headline CPI still running at 4.2% YoY.
🔸 For policymakers to gain confidence that inflation is sustainably cooling, they will likely need to see a broader trend of weaker price pressures