Keep Your Nerve
Thursday's CPI number and market price action say a Fed pivot is on its way. But does it really even matter at this point?
It’s hard to say that the market did anything but rejoice on Thursday after a lower than expected CPI number was reported. Major indices screamed higher on the assumption that a cooling inflation number (still 7.7%, I’ll pause for laughter) would prompt easing from the Federal Reserve and more of a risk appetite from investors. The market was/is hell-bent on rallying on this news, but is it really time for another stock market bliss trip?