Hot things: CPI and Solana

CPI Still Hot

Despite oil prices falling and inventories growing, lagging CPI data came in hot this week. It was expected to be an eye-popping 8.8% but still managed to surprise to the upside. The CPI print of 9.1% was the highest in four decades as gas prices soared 11% month-over-month.

Due to the perceived lack of inflation relief, markets immediately reacted to the news, upping the consensus Fed Funds target for the next FOMC meeting by 25 BPS. At the time of writing, t...

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