message that price pressures remain elevated and they won’t be deterred from raising rates by volatility in financial markets.
All eyes will now be on this week’s US inflation data after a hotter-than-expected reading in August tempered hopes of a nascent slowdown. Separately, minutes from the Fed’s September meeting will give clues into the central bank’s tolerance for economic pain. “US CPI is the marquee event risk and when we see expectations that core CPI will rise 20 basis points to 6.5% from 6.3%, it will give the Fed even more fodder to keep tightening financial conditions,” Chris Weston, head of research at Pepperstone Group Ltd., wrote in a note. “The short sellers are having it all their way – we have no central bank support.”
Markets are closed for a holiday in Japan. The US bond market is closed but the stock market will be open.
Why not let the business cycle run it's course. If the Government stopped borrowing more and printing more, then there would not be inflation.
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