, Columnist
Inflation Numbers Resolve What the Debate Couldn’t
The Fed is unlikely to make a jumbo cut now, counterbalancing Trump’s poor performance as markets seek clarity.
Handshake at the Ground Zero remembrance ceremony as President Joe Biden and former New York Mayor Michael Bloomberg look on.
Photographer: Adam Gray/AFP/Getty ImagesThis article is for subscribers only.
To get John Authers' newsletter delivered directly to your inbox, sign up here.
Unlike the debate that left the presidential race wide open, the US inflation numbers 10 hours later seem to have resolved something. If the Federal Reserve cuts rates by 50 basis points next week, it will cause a major surprise. The process of disinflation is slowing down, and that makes it hard to justify such drastic action.