Goldman Sachs attributes nearly all US inflation overshoot to tariffs and Iran conflict
Goldman Sachs says tariffs and the Iran conflict explain nearly all US inflation overshoot, but the Fed is still hiking.
Fed's Collins sees additional policy tightening as warranted soon, as inflation remains high and broadens.
A December rate hike appears inevitable, with markets pricing in a 75% probability of consecutive increases. Bank of America now anticipates three straight hikes in December, January, and March.
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Goldman Sachs says tariffs and the Iran conflict explain nearly all US inflation overshoot, but the Fed is still hiking.
Weaker-than-expected US PPI data triggered a Bitcoin rally that liquidated $39 million in short positions and endangered a $52 million leveraged bet.
Austan Goolsbee said inflation is not on track to reach 2% and the Fed must act to preserve credibility.
US October PPI rose 6.5% year-on-year, just below the 6.6% forecast, offering slight relief to inflation concerns.