I've been focusing on FOMC a lot lately, but we also have CPI in the morning, which is another event that could cause significant volatility. Here's some of my thoughts and expectations for CPI tomorrow.
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Sorry for the background noise from my dog.
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So we got the cooler than expected print this morning, but hardly significant. Was only 0.01% below expectations. Yet fed fund futures jumped up to a 75% chance of cuts in September, but already fell back to 60%. I still believe Powell will not confirm September cuts and the market will panic. If the September cut is actually coming, I think bears are toast for a while.
