Last week brought plenty of affirmation for stock-market bulls, with lots of favorable data releases and a less hawkish-sounding Fed Chair Powell. The data depicted an economy that has not been landing at all but remaining quite airborne amid more signs of disinflation.
Powell said in his post-FOMC meeting presser that disinflation has a ways to go. Until inflation declines to the Fed’s target level, monetary policy will remain restrictive, he said, confirming that two more 25bps hikes in the federal funds rate are likely, followed by a pause. We review the latest disinflation readings,
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