Cooling "soft data" argues Fed playbook soon change to more predictable. In 1982, took only 4 mos to erase entire Volcker "bear market"

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Fed speak post-June CPI shows the Fed playbook seems to be changing

Most investors, based upon my conversations, remain skeptical that markets can find any footing, particularly in the face of continuing bad CPI reports. But I think investors are overlooking that Fed reaction to "hot" inflation prints is actually changing.

Last week, after the horrific June CPI report, several Fed members spoke...

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