• Inflation to overshoot target by 1 pp
• It will take 2-3 years to get back to target
• Could be a decade of Fed overshooting target
• Does not put high odds on labor market downturn

She’s hawkish but that’s no surprise.

Given the drop in equity markets today, the odds of a December cut are up to 71%, which is higher than at the start of the week despite the ADP and ISM services data.

This article was written by Adam Button at investinglive.com.



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