Thndr Claps » U.S. Claps » Economy 🏢 » Fed’s efforts ineffective as inflation climbs 💸
The ClapThe Fed recorded an 8.2% increase in inflation YoY, close to its highest level in 40 years.
The DeetsThe consumer price index (CPI) recorded an 0.4% increase in September, higher than the expected 0.3% estimate.
Market ReactionInitially, the report shook markets, as the increased inflation all but confirmed more interest rate hikes to come.
The market did make a recovery, however, with the DJI, NASDAQ, and S&P 500 all closing up more than 2%.
Why this MattersThe Fed’s efforts to curb inflation have so far been unsuccessful following 3 consecutive 0.75% interest rate hikes.
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