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The Fed has a problem in their meeting on Wednesday. We told subscribers the market usually takes a couple of days to react to CPI. CPI reported its 3rd .3 month-to-month in a row on Thursday which is inflationary.
It's now been a couple of days and guess what, we have another inflation spike coming with oil on top of the delayed CPI reaction. Saudi Arabia was attacked which is likely sending oil prices higher.
That oil price spike and 3 .3 CPIs in a row have to bother the Fed ahead of their Wednesday decision. What's more they've pretty much previewed a rate cut is coming this week. Uh oh. Inflation is jumping and they have to be deer-in-headlights now with oil.
I think they end up cutting rates but they are going to have to tell the market to cancel future rate cuts. If they cancel this one markets are going to take a whack (that's a technical term).
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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.