Well put (as always). The dollar’s trading as if near-term tail risks have been slightly reduced, but otherwise no game-changer for the Fed’s policy trajectory.
Karl Schamotta
For the Fed, May’s inflation report settles nothing
It leaves the Fed's hawkish lurch intact but doesn't force it any hawkier today www.wsj.com/livecoverage...
The most important thing to understand about May's consumer price index is that it can't, by itself, resolve much of anything for Federal Reserve officials.
A measure of "core" inflation that removes ...
