Business
Wall Street has worst day since February as inflation data rattles investors – Sydney Morning Herald
Inflation data blew past expectations and further stoked jitters over the prospect of the Fed raising rates sooner than anticipated.
Going forward, the big question is just how long can the Fed maintain its dovish stance in opposition to the markets, Cole said. Particularly if companies begin raising wages to encourage unemployed labor back into the workforce, in turn driving a large hole in the Feds transitory inflation argument.
Core consumer prices (CPI), which exclude volatile food and energy items, grew at 3 per cent year-on-year, shooting above the central banks average annual 2 per cent inflation growth target.
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