
And it sure did not disappoint. It was very much like a poker game, with the flop (CPI report) being presented first. Then, we moved on to the turn (dot plots) and finally the river (Powell's presser). Overall, it ended with a push and pull by the time we wrapped things up yesterday. It was a case of CPI giveth, and Powell taketh away.
Looking at the US CPI report first, there were slight misses on estimates across the board. But what did the details say?