Oh great a revised CPI out tomorrow https://www.investors.com/news/economy/cpi-inflation-data-revisions-may-be-a-big-deal-for-the-federal-reserve-sp-500/.
We all know how this is going to end. Cant win in this rigged game!
What really fueled expectations of near-term and significant Fed rate cuts was the plunge in core PCE inflation to a 1.9% annual rate over the second half of 2023, from 4% in the first half.
Could seasonal adjustment changes really alter the recent trend? That's exactly what happened last February. "Last year's update of CPI seasonal adjustment factors was a big deal, showing inflation momentum was stronger than thought at the end of 2022, catching both the market and the Federal Reserve off guard," wrote ING chief international economist James Knightley.