January’s hotter-than-expected inflation data has upended market expectations according to NYSE Senior Market Strategist Michael Reinking, who told Yahoo Finance’s Madison Mills that “economic data would be the cause of volatility.”
From the floor of the New York Stock Exchange, Reinking says January’s Consumer Price Index (CPI) print “throws… a monkey wrench” into assumptions that the Federal Reserve’s tightening cycle was near its end with interest rate cuts on the horizon. Now, the odds of initial rate cuts have been pushed back to May.
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Editor’s note: This article was written by Angel Smith
