Robin Brooks says the Fed will not hike rates by 50bp at the Dec. 9 meeting
FROM THE WIRE · SEEKINGALPHA.COM
[The Federal Reserve] Douglas Rissing The Federal Reserve will not raise interest rates by 50 basis points at its Dec. 9 meeting despite a hotter-than-expected inflation report, said Robin J. Brooks, former chief economist at the Institute of International Finance and chief FX…
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- 01Brooks sees the hotter-than-expected CPI print as a vestige of the recent oil price spike.
- 02He argues core services inflation excluding noisy items has been falling since its August peak.
- 03He describes the CPI surprise as statistical noise rather than accelerating underlying inflation.