PPI & CPI de-risk September rate hikes and as a result, the Jackson Hole next week. But combing through the finer details tells us that macro concerns are not alleviated, despite the optimism.
The jobs report coming soft last week, coupled with a soft CPI on Wednesday and a soft PPI on Thursday, I believe, takes the rate hike off the table for September, and de-risks the Jackson Hole meeting that is due …