Fed’s “transitory” mantra repeated after the hot CPI data

US inflation data came in at its highest since 1990:

San Fran Fed President Daly spoke in an interview with Bloomberg following the figures, trotting out the ‘transitory’ theme embedded at the Federal Reserve:

Its not as if the Fed is unaware of surging CPI, some of the regional branches:

  • Cleveland median 3.1%
  • Trimmed mean 4.1%
  • Atlanta Fed sticky CPI 3.2%

Fed Funds is back pricing 2 hikes in 2022 … at least one regional president thinks that may be correct:

Greg noted higher yields during the US session also:

How much longer can the Fed deny inflation and argue its just a passing phase? 

US inflation data came in at its highest since 1990:

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