PPI data eases hawkish Fed concerns, but chip stocks sink
PPI came in 0.1 pp below estimates, easing inflation fears. Dollar rose, AI stocks fell on China chip restrictions.
1 h ago6 min read
Fed's Daly: Rate increases still likely needed
Fed's Daly says rates likely need to rise, citing broad inflation pressures and restrictive policy uncertainty.
13/11/2026 18:013 min read
- It is difficult to say monetary policy is sufficiently restrictive
- We will probably have to increase rates further
- Inflation is being driven up by many factors, which is worrying
- The prevailing view is that rates must rise
Every Federal Reserve official who has spoken recently has indicated that interest rates need to increase, yet hardly any of them backed a rate hike two weeks ago. This is puzzling.
Additional comments:
- The summary of economic projections should not be given too much weight; it represents only a snapshot
- I am focused on how the disparity between consumer sentiment and spending will narrow
- Watch services sector inflation excluding housing; it is not improving
- There are early indications that consumer spending may be slowing
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