US inflation data came in at its highest since 1990:
San Fran Fed President Daly spoke in an interview with Bloomberg following the figures, trotting out the 'transitory' theme embedded at the Federal Reserve:
Its not as if the Fed is unaware of surging CPI, some of the regional branches:
- Cleveland median 3.1%
- Trimmed mean 4.1%
- Atlanta Fed sticky CPI 3.2%
Fed Funds is back pricing 2 hikes in 2022 ... at least one regional president thinks that may be correct:
Greg noted higher yields during the US session also:
How much longer can the Fed deny inflation and argue its just a passing phase?
