There's Something for Everyone In August Inflation

August US consumer price index (CPI) data hit the wires Friday, with the headline rate holding at 3.4% y/y.[i] Coming mere days before the Fed’s September 15 – 16 meeting, most coverage viewed it through that lens, with many convinced the inflation rate means a hike is now a near certainty—a factor many wrongly fear spells trouble for stocks. Let us review the data to help illustrate why we think a hike would be a mistake—but no disaster for markets. Read Full Article »