The CPI numbers are out, and they are a delight to bullish eyes.
If you believe the numbers (which is a little tough if you’ve visited the grocery store recently), inflation has been cooling down steadily over the past year and is reaching positively tepid levels, virtually assuring a wait-and-see Fed tomorrow.
The immediate reaction was, of course, positive, although modest so. As I’m typing these words, half an hour before the opening bell, all the stock futures are up fractionally.
After tomorrow’s FOMC’s event, at which time Powell will announce they’ll monitor the data while they’re busy doing the people’s work, the world will have to ask itself: does low inflation mean all our worries are over now?
