, Columnist
The Inflation Boogeyman Now Hides in Services
It is going to be a long and complicated path before price gains moderate and the latest US print shows why. Also, a breakfast staple is becoming more expensive.
Fed officials are closely watching the cost of services.
Photographer: Xinhua News Agency/Xinhua News Agency via Getty Images
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The big news: January’s US inflation data came in almost exactly as expected. Despite this, there were further tectonic shifts in the bond market, as predictions for future fed funds rates continued to rise, while stock markets somehow or other continued to rally.