Dreams of Rate Cuts Amid Persistent Inflation, Ageing Warriors Prepare To Put On The Gloves, The U.S. As The Destination Of Choice

The three recent, “hot” inflation reports “were higher than I think anybody expected” says Federal Reserve chairman Jerome Powell. Which is why last week’s Consumer Price Index, with core inflation posting the smallest gain since 2021, prompted cheers on Wall Street, already counting the benefits of soaring share prices. As did a report that retail sale…