TechFlow news: "Fed whisperer" Nick Timiraos said stronger housing inflation pushed core inflation higher than expected, reducing the likelihood of a 50-basis-point rate cut by the Fed at its upcoming meeting next week.
Officials have previously indicated they are prepared to cut rates at this meeting, and Wednesday's CPI data will not change that. However, some officials have not entirely ruled out the possibility of a larger rate cut, rather than the traditional 25-basis-point reduction.
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