Morning Market Tidbits

The Federal Reserve is passively easing monetary policy by holding rates steady while inflation remains above target. Recent data suggests supply chain strains and persistent core services inflation will make material disinflation difficult to achieve.

Key Takeaways

• 1.The Federal Reserve is effectively easing monetary policy by maintaining current rates despite rising inflation and inflation expectations.
• 2.Material disinflation is unlikely in the near term as housing tailwinds fade and services inflation remains sticky.

Table of Contents

• Key takeaways
• Not hiking means easing
• It's hard to see material disinflation ahead
• US GDP Tracking
• Today's economic calendar

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