Fed's Bullard: Policy rate will need to be higher for longer

St. Louis Federal Reserve leader James Bullard, following today's Consumer Price Index data that came in as expected on the whole, besides the one exception on a monthly basis in the headline number, stated that the most likely scenario is inflation remaining above 2%, so the policy rate will need to be higher for longer.

More to come...

US Dollar update

The US Dollar has dropped on the back of the CPI data. The year-over-year CPI print landed at 6.5% or 0.6 of a percentage point cooler than the November number. The one exception was a positive surprise. On a monthly basis, the headline number actually decreased by a nominal 0.1% instead of remaining unchanged, as analysts expected.

Jan 12, 2023

Fed: Even if FOMC delivers a downshift, it will continue tightening past the February meeting – Wells Fargo

The inflation numbers released on Thursday in the US increased expectations that the Federal Reserve will shift from 50 basis points rate hikes to 25

Fed's Barkin: Cautions that while the average CPI has dropped the median has stayed high

Richmond Federal Reserve President Thomas Barkin said on Thursday, that it "makes sense" to steer more deliberately as the Fed works to bring inflatio