There have been a host of reactions to the hot September CPI numbers released Oct. 14 across the U.S. economy, from the spiking 10-year Treasury yield to traders surging the probability of a Fed rate hike to 32. 7% at its Oct. 27-28 meeting to new questions around the sustainable run rate for AI models. Honestly, I don’t know why everyone is so surprised. I’m much more Main Street than Wall Street, and I knew the CPI year-over-year headline number of 3. 7% was going to be higher than the 3. 6% consensus. That’s because every time I pay a bill or make a purchase, the price is always higher than expected. I’m getting whiplash checking out gas prices in my town.
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