The Consumer Price Index or CPI report indicated that inflation has peaked, but will be sticky, and the stock market did not react well. "The CPI number was higher than expected and now the Federal Reserve will need to act more aggressively. The selling in the indices took out last month's lows. The CPI data also sent the yields higher and caused global economic growth concerns. Also, U.S. Dollar strength has been a headwind for companies. The currency price is directly related to interest rates. On the other hand, the Japanese Yen is trading at around 24 year lows and there is weakness in the Euro," says Ben Lichtenstein. Caroline Woods discusses the crude oil price being back on the rise. The interest rate hike decision will be made on Wednesday.
16 Sep 2022