Last month, it increased by 6.0% annually compared to 6.4% the month before. After increasing by 0.4% in January, the CPI grew by 0.5% when the volatile food and energy components were excluded. The so-called core CPI increased by 5.5% in the 12 months ending in February after increasing by 5.6% in January.
Equities have fallen significantly in recent days as a result of the failure of SVB Financial Group and peer Signature Bank, as well as on concerns. Investors believe that the potential for a financial crisis will persuade the US central bank to ease off on monetary tightening.
Considering what happened over the weekend, I don’t believe a better number could have been chosen. It demonstrates that inflation is moving in the direction that the Fed has essentially anticipated and desired, according to Kim Forrest, a chief investment officer of Pittsburgh’s Bokeh Capital Partners.
Source:- Reuters
The Fed won’t be overly aggressive and raise interest rates to further harm banks.
Source: Frontline PBS | Official
After experiencing double-digit losses over the previous four days, regional bank stocks recovered, with the KBW Regional Banking index rising 7.7%. Before trading in First Republic Bank’s shares was suspended due to volatility, the company increased 52.7%.
What do you think about this Share your views in the comments below