From <a href=""Zero Hedge

“Everything Is In Play” – Stocks Sink After Fed’s Bostic Cites “Concerning” CPI

Atlanta Fed President Raphael Bostic said “everything is in play” for policy action after data showed that US inflation accelerated again to a fresh four-decade high last month.

“The top-line number is a source of concern,” Bostic told reporters Wednesday during a visit to St. Petersburg, Florida.

“Everything is in play.”

Asked if that included by raising rates by a full percentage point, he replied:

“it would mean everything.”

That remark – which should not be a surprise at all given the STIR market had already gone there, sent stocks lower…

The STIR market has already priced in a 60% chance of a 100bps rate hike in July…

And then the STIR market is pricing in dramatic rate-cuts as The Fed bails the economy out again as the yield curve (2s30s) plunges into inversion…

Bostic just poured cold water all over the WSJ’s earlier article.

Tyler Durden
Wed, 07/13/2022 – 14:05
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