Fed’s Goolsbee Flags Rising Inflation, Calls Latest CPI Report Concerning
According to ChainCatcher, as reported by Jintou, Federal Reserve's Goolsbee stated that if more situations similar to the latest Consumer Price Index (CPI) report arise in the future—where inflation components unrelated to tariffs are increasing—it would be even more concerning.
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On Wednesday, approximately four-fifths of the constituents in the Russell 2000 Index recorded declines. Since its peak in August, the index has dropped by 11%, falling below its 200-day moving average and entering a technical correction for the first time since March this year. Analysis indicates that with the US CPI rising more than expected and the probability of rate hikes increasing, small-cap, consumer, and transportation stocks are facing "sustained and long-term resistance."
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